palm oil fruit
KUALA LUMPUR: Palm oil registered its best year since 2019, with prices more than doubling in three years, as a chronic labour shortage in second-biggest grower Malaysia and tight global vegetable oil supplies drive up futures.
The tropical oil, used in everything from cooking oil to chocolate and soap, surged 31% this year as planters in Malaysia grapple with their worst-ever shortage of plantation workers after the pandemic shuttered borders and the government froze new recruitment of foreign labourers.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
