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The Plantation Industries and Commodities Ministry and the Malaysian Palm Oil Board (MPOB) came under heavy criticism lately from planters badly affected by the sharp fall in crude palm oil (CPO) prices. Planters are urging the Government to consider relaxing the payment of MPOB cess, CPO sales taxes and regulating the high fertiliser prices. Minister Datuk Peter Chin Fah Kui talks at length on the latest strategies and measures taken by his ministry.
PETALING JAYA: The alarming rise in the palm oil stockpile and higher production will likely exert downward pressure on crude palm oil (CPO) prices in the near term, according to analysts.
PETALING JAYA: The move to suspend crude palm oil (CPO) export taxes for three months is positive for Malaysian planters as it will help boost exports of the commodity.
PETALING JAYA: Crude palm oil (CPO) price discount to its main competitor, soybean oil, is expected to widen by about US$70 to US$100 per tonne after trading at almost zero discount in February, say analysts. Should the price discount gap gets bigger, analysts project that demand for CPO could increase in the coming months.
PETALING JAYA: Analysts have pegged the average crude palm oil (CPO) price for this year to drop by over 20% at RM2,260-RM2,280 per tonne, compared with RM2,815 per tonne recorded in 2017.