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PETALING JAYA: Terrain limitation is a major factor which requires physical labour even though the plantation industry is trying hard to incorporate automation.
PETALING JAYA: The prolonged labour shortage in the oil palm plantation sector remains unresolved, as the government has yet to fulfil its promise of bringing in 32,000 foreign workers.
PETALING JAYA: Efforts to fast-track the hiring process of foreign workers, especially for the plantation industry, are now under way under a task force comprising several ministries and agencies, says a palm oil industry leader.
PETALING JAYA: A prolonged labour crunch affecting yields in the estates, rising costs and hefty windfall tax payments could undermine the earnings of plantation companies as the first quarter results for the financial year 2022 (1Q22) rolls in.
Indonesia’s palm oil export ban likely to benefit Malaysia
PETALING JAYA: With 10,000 domestic workers scheduled to arrive from Indonesia after the Hari Raya holidays, industries that rely heavily on foreign workers also want their applications expedited.
PETALING JAYA: Local plantation companies, which have reaped bumper earnings over the past one year, will likely experience a squeeze in their profit margins from next quarter, dragged by strong hikes in production costs coupled with the anticipation of softer crude palm oil (CPO) prices in the second half of the year (2H22).
“FIVE years ago if you told me that crude palm oil (CPO) prices were capable of hitting these numbers, I would have scoffed at you” says Kevin Lee, who has been trading CPO futures for many years.
PETALING JAYA: Local planters are bracing for another round of crop losses between the first and second quarter of this year, given the prolonged delay in the intake of foreign workers to address the severe labour shortage in the plantation sector.