Higher palm oil prices to mitigate cost hike

The plantation group said in a briefing to update on its actions in addressing the ILO indicators the additional costs arising from these measures were necessary and the additional cost will likely be temporary

PETALING JAYA: Sime Darby Plantation Bhd is likely to incur additional operating costs of “slightly more than 7% in financial year 2022” due to measures to address the International Labour Organisation (ILO)’s forced labour indicators in the former’s production process.

The plantation group said in a briefing to update on its actions in addressing the ILO indicators the additional costs arising from these measures were necessary and the additional cost will likely be temporary.