KUALA LUMPUR: The Malaysian Palm Oil Association (MPOA) had called on the government to revert the rate of the windfall profit levy (WPL) for Sabah and Sarawak to 1.5 per cent in the upcoming Budget 2024 from the current three per cent.
Given the further increase in the cost of production, the association also beseeched the government to revise the WPL price threshold upwards by RM500 per tonne of crude palm oil (CPO) to RM3,500 per tonne for Peninsular Malaysia growers and to RM4,000 per tonne for Sabah and Sarawak growers.
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