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THE Malaysian Palm Oil Board (MPOB) has allocated RM40mil for the setting up of a methyl ester production plant in Labu, Negri Sembilan, Plantation Industries and Commodities Minister Datuk Peter Chin Fah Kui said.
Malaysian Palm Oil Board (MPOB) has stressed three main research strategies through technology and new innovations to enhance the palm oil industry performance at all levels.
MALAYSIA#039;S crude palm oil (CPO) production this year is forecast to range between 13.5 million and 13.6 million tonnes, almost similar or slightly above last year#039;s output of 13.4 million tonnes, said Plantation Industries and Commodities Minister Datuk Peter Chin.
MALAYSIA#039;S average crude palm oil (CPO) price this year is expected to be between RM1,600 and RM2,100 per tonne in view of the current high demand and anticipated tightness in world oilseeds supply and stocks level.
THE current rise in palm oil price is mainly influenced by the bullish soybean market, which in turn is driven by the shortage of supply following unfavourable weather conditions in the United States, said Malaysian Palm Oil Board (MPOB) director-general Datuk Dr Yusof Basiron.
UNPRODUCTIVE palm oil millers that continue to produce at low oil extraction rates (OER) are likely to see their licences revoked or operations suspended by the Malaysian Palm Oil Board (MPOB), said Primary Industries Minister Datuk Seri Dr Lim Keng Yaik.
THE price of crude palm oil (CPO) is expected to narrow down by 10% to 15% from its current average price of RM1,300 per tonne later this year, as dampening factors like surplus in the supply of vegetable oils and oils in unprocessed seeds slowly creep in.