MPOB director-general Dr Ahmad Parveez Ghulam Kadir said the government agreed with the industry’s proposal to use the additional cess collection to support the establishment of the Mechanisation and Automation Research Consortium of Oil Palm (MARCOP)
KUALA LUMPUR: The additional RM2 cess imposed on the manufacturers of crude palm oil (CPO) and crude palm kernel oil is in line with the current uptrend performance of the commodity which is trading above RM4,000 per tonne, says the Malaysian Palm Oil Board (MPOB).
“The CPO price on March 9,2021 surged to RM4,022.50 per tonne, its highest since March 4,2018 and is expected to remain stable due to positive market sentiment, declining stock and increasing exports, ” it said in a statement.
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