MCA president hopes falling palm oil prices won’t affect Ramadan bazaar hawkers

  • Nation
  • Friday, 17 May 2019

PETALING JAYA: As global palm oil prices continue to face challenges, MCA president Datuk Seri Dr Wee Ka Siong is hoping that the businesses of Ramadan bazaar hawkers will not be affected.

Dr Wee is scheduled to visit the Ayer Hitam Ramadan bazaar on Friday (May 17) and will be attending a breaking of fast event at Kg Parit Tengah Parit Raja.

“When I was looking through my old pictures on my iPhone, I found a picture when I visited the same Ramadan bazaar last year.

“I hope business in this year’s bazaar will not be affected due to the falling palm oil prices,” he said in a Facebook post on Friday (May 17).

Previously, Dr Wee had expressed concern over the matter, as some 70% of his constituents in Ayer Hitam, Johor, are oil palm smallholders.

On Tuesday (May 14), it was reported that the price of crude palm oil (CPO) had fallen to RM1,985 a tonne, which was its lowest level in six months.

Earlier Friday, it was reported that the benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange was up 2.5% at RM2,096 a tonne.

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