MARKET DEVELOPMENT
CPO Export Tax Exemption Until Feb 28, 2015: Uggah
CPO Export Tax Exemption Until Feb 28, 2015: Uggah
20/12/2014 (Bernama) - The government is exempting the 4.5 per cent export tax on crude palm oil (cpo) from Sept 1 this year until Feb 28, 2015 to boost cpo exports and reduce inventories, says Plantation Industries and Commodities Minister Datuk Amar Douglas Uggah Embas.
"While palm oil price fluctuations have affected all quarters, planters have been the hardest hit," he said at the Malaysian Palm Oil Board (MPOB) annual dinner and awards presentation.
The sluggish global vegetable oil market has affected palm oil prices, which have declined to the RM2,500 a tonne level, he said.
Smallholders could raise their long-term income through integrated livestock rearing in their plantations, while technology and innovation could help improve the oil palm sector's production efficiency, he said.
The annual MPOB excellence awards could promote a quality work culture, he added, pointing out the vital role of innovation and quality in ensuring organisational excellence as well as efficient and effective customer service.
"While palm oil price fluctuations have affected all quarters, planters have been the hardest hit," he said at the Malaysian Palm Oil Board (MPOB) annual dinner and awards presentation.
The sluggish global vegetable oil market has affected palm oil prices, which have declined to the RM2,500 a tonne level, he said.
Smallholders could raise their long-term income through integrated livestock rearing in their plantations, while technology and innovation could help improve the oil palm sector's production efficiency, he said.
The annual MPOB excellence awards could promote a quality work culture, he added, pointing out the vital role of innovation and quality in ensuring organisational excellence as well as efficient and effective customer service.