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Windfall profit levy review, oil palm replanting among agenda at MPOA’s inaugural conference
Indonesia, Malaysia push biofuel to offset palm oil price downturn
Palm closes lower ahead of August supply-demand data
El Nino may cause CPO prices to hit, even exceed RM4,000 per tonne in 2H2023 — Sime Darby Plantation MD
Immediate measures needed to address labour shortage in Sabah's palm oil industry, says Warisan
18/09/2023 (The Star Online), Kota Kinabalu - The Sabah government must take immediate and comprehensive measures to resolve labour shortages faced by the palm oil industry, says Parti Warisan deputy president Datuk Darell Leiking.
Malaysia to double palm oil exports to China amid EU import restrictions
18/09/2023 (Benar News) - Malaysia’s deal to double palm oil exports to China annually is a move to offset potential revenue losses from the European Union’s ban on commodities that are linked to deforestation, analysts said on Monday.
Marcop to enhance labour efficiency in dealing with palm oil labour shortage said DPM
18/09/2023 (The Malaysian Reserve) - The Malaysia Palm Oil Berhad’s (MPOB) Mechanisation and Automation Research Consortium of Oil Palm (MARCOP) aims to raise the labour-to-land ratio to 1:25 (one person to cover 25 hectares) from 1:9 currently to sort the labour shortage in the industry.
Malaysia reviewing windfall tax on palm oil industry
18/09/2023 (The Business Times) - MALAYSIA is reviewing an existing windfall tax on the palm industry and hopes to complete it next year, Minister of Plantation and Commodities Fadillah Yusof said on Monday (Sep 18).
Govt starts oil palm replanting in Riau smallholder farms
18/09/2023 (Antara News), Pekan Baru - The Agriculture Ministry has launched a program to replant oil palms on 10 thousand hectares (ha) of smallholder farmland in Riau Province.
A repeat winner for the sector
18/09/2023 (The Edge Malaysia) - From 2019 to 2022, the price of the world’s most consumed edible oil — crude palm oil (CPO) — rose from a low of RM1,831 per tonne (Malaysian Palm Oil Board spot) in March 2019 to a historical high of RM8,076 per tonne in March 2022, owing to weather factors, pandemic-induced labour shortages, the Ukraine-Russia conflict and regulatory changes. Prices eased towards end-2022, ending the year at RM4,048 — still higher than 2019’s average of RM2,128.
Anwar: China to double imports of Malaysian palm oil
18/09/2023 (The Edge Malaysia), Nanning - China’s imports of Malaysian palm oil will double to 500,000 tonnes a year, from the current 250,000 tonnes, following the exchange of a memorandum of understanding (MOU) between Sime Darby Oils International Ltd (Sime Darby Oils) and GuangXi Beibu Gulf International Port Group (GuangXi Beibu Gulf).
Govt develops plan to reduce edible oil import dependency
17/09/2023 (The Standard Media) - The government has through the ministries of Agriculture and Trade targeted specific value chains in a bid to stimulate production, value addition, and marketing of agricultural products so as to lower the cost of importation that stands at over Sh100 billion per year.
KPDN: Claim of NSK selling subsidised cooking oil only to foreigners is just a misunderstanding
15/09/2023 (The Sun Daily), Putrajaya – The Ministry of Domestic Trade and Cost of Living (KPDN) has inspected the NSK Supermarket in Jalan Peel, Kuala Lumpur, over complaints of it selling the subsidised one kilogramme packets of cooking oil to foreigners.
