The Malay Mail Online (07/01/2018) - JOHOR BARU, Jan 7 — The government temporarily suspended duties for palm oil exports purely to boost the commodity's price, said the Federal Land Development Authority (Felda).

Felda chairman Tan Sri Shahrir Samad today rejected any ulterior motive for the move, and said  the government's move was to help stabilise market prices for palm oil.

 “This is not an election ploy by the government as such measures have been done before in the past.

“I believe Felda Global Ventures (FGV) will be back as a business entity without any political interference,” he said after a visit to the Desa Datuk Hajah Hasnah resettlement flats here today.

On January 5, the government announced the three-month suspension duties for the export of palm oil from January 8 until April 7 in a bid to halt the commodity's dwindling price.

However, the exemption will be lifted earlier if stockpile of palm oil falls to 1.6 million tonnes, a level seen as suitable to stabilise prices but sufficient enough to fulfil requirements of the refining industry.

Shahrir, who is also Johor Baru MP, confirmed Felda’s planned petition to protest the European Union’s (EU) action to ban the import of palm oil to the region will take place on Jan 16 in Kuala Lumpur.

He said Felda would collect signatures from about 100,000 settlers for the petition to be sent to the 27 EU representatives in Kuala Lumpur.

Malaysia and Indonesia contribute more than 80 per cent of global palm oil output, with the EU being Malaysia's largest export destination, accounting for 13 per cent of palm oil and palm-based products in 2016.