Archived News

Since the introduction of the GST more than three years ago, Budget-making for indirect taxes has got limited to mainly Customs duties since changes in the rates of the Goods and Services Tax can only be done by the GST Council. Even so, in the last three years, no significant rationalisation has been done by the Finance Ministry in the Budgets. The rates are still far too diverse.

MALAYSIA will file its lawsuit against the European Union (EU) on the trade bloc’s policy of phasing out palm oil-based biofuel imports to the World Trade Organisation (WTO) on Jan 15.

Malaysia’s crude palm oil (CPO) stocks slumped 19.2% to 583,761 tonnes in December 2020 from the 722,451 tonnes in November, the Malaysian Palm Oil Board (MPOB) said

Indonesia, the world's biggest palm oil producer, will increase its refined palm oil exports after raising taxes, leaving Malaysia to become more competitive in crude palm oil (CPO) exports, a leading industry analyst said on Monday.

Advances in research that generate new technologies and innovations are an important strategy for the sustainable development of the country's palm oil industry, said Minister of Plantation Industries and Commodities Datuk Dr Mohd Khairuddin Aman Razali.

Malaysian palm oil futures fell 1% on Tuesday, dropping to a one-week low on weak January exports so far and tracking deep losses in rival Dalian oils.

The Ministry of Plantation Industries and Commodities (KPPK) has given an assurance that oil palm plantations will be given permission to operate as usual if the government implements the movement control order (MCO) 2.0.

Malaysian palm oil inventories in December plunged to 1.26 million tonnes, their lowest in more than 13 years, but are expected to rebound to 2 million tonnes by the end of 2021, the industry regulator said on Monday.

Malaysia’s industrial production in November fell for the second consecutive month, declining 2.2% from a year earlier, dragged down by lacklustre mining and electricity output, government data showed on Monday.

Indonesia, the world’s biggest palm oil producer, will increase its refined palm oil exports after raising taxes, leaving Malaysia to become more competitive in crude palm oil (CPO) exports, a leading industry analyst said on Monday.

The robust ringgit is set to leave positive trails onto the equity markets amid a weaker US dollar, as the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 30.24 points to end the first week of 2021 at the day’s high of 1,633.19.

Crude Palm Oil (FCPO) Futures on Bursa Derivatives has reached a 10-year high record at RM3,888 per metric tonne last week and encountered profit-taking activities. March Futures settled at RM3,820 per metric tonne on Friday