MPOA upbeat on CPO outlook

PETALING JAYA: While acknowledging the road ahead may still be bumpy for the palm oil sector, Malaysian Palm Oil Association (MPOA) chief executive Joseph Tek Choon Yee is maintaining a bullish outlook, on the back of sustained global demand as well as plans to cooperate with the government for the benefit of the industry.

Among challenges, which the local palm oil industry is facing, are labour shortage, erratic weather patterns brought on especially by the La Nina phenomenon that could affect crop productivity, taxes and levies imposed by the federal and state governments as well as competition from Indonesia.