No rationale for proposed tax on palm oil

THE Malaysian Palm Oil Council (MPOC) condemns efforts by the governing party of France, the Socialists, to impose a discriminatory tax on palm oil produced in the developing world. A new report commissioned by MPOC finds no economic rationale for the new tax and, in fact, finds it to be disproportionate and discriminatory.

The French Parliament is currently debating a Biodiversity Bill. This week in the French National Assembly, Socialists MPs have proposed a new €90 (RM407) per tonne tax on palm oil. This follows an attempt in January by the French Senate to place a €300 (RM1,356) tax on palm oil.