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PLANTATION companies with high-capacity refineries will need to quickly source new export markets for their refined palm oil products, should India’s unofficial boycott on Malaysia take a turn for the worse in the coming months.
KUALA LUMPUR: The Primary Industries Ministry is seeking diplomatic solutions with India following their move to restrict refined palm oil imports from Malaysia.
KUALA LUMPUR: The quantity of refined palm oil exports from Malaysia to India is relatively small, roughly US$300mil a year.
MUMBAI: India has informally asked palm oil refiners and traders to avoid buying Malaysian palm oil, government and industry sources said, following Malaysian criticism of India’s actions in the Kashmir region and its new citizenship law.
MUMBAI/NEW DELHI: India has informally asked palm oil refiners and traders to avoid buying Malaysian palm oil, government and industry sources said on Tuesday, following Malaysian criticism of India's actions in the Kashmir region and its new citizenship law.
KUALA LUMPUR: The minimum wage increase of RM100 to RM1,200 effective Jan 1 in 57 cities and towns from RM1,100 currently is reasonable and will not cause any significant impairment to the bottom line of employers.
PUTRAJAYA: The B20 biodiesel programme for the transport sector is expected to be launched in phases next year, giving a fillip to the crude palm oil (CPO) price, which is projected to reach RM3,000 per tonne.
KUALA LUMPUR: The Finance Ministry is likely to agree on the proposal to channel the 3% windfall profit tax (WPT) on palm oil producers into a trust fund for biodiesel and oil palm smallholders’ development, according to Primary Industries Minister Teresa Kok.
KUALA LUMPUR: The Ministry of Primary Industries (MPI) is optimistic that the Finance Ministry will approve its proposal for the three per cent windfall tax imposed on palm oil planters to be channelled back to the industry.
SERDANG: Malaysia’s furniture exports are expected to rise 1% this year against RM7.79bil recorded in 2018 on the back of continued demand from customers despite global economic uncertainties, the Primary Industries Ministry said.