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MARKET DEVELOPMENT
Commodity prices more than doubled
calendar12-08-2002 | linkNULL | Share This Post:

Monday, August 12, 2002 (The Star) KUALA LUMPUR - Prices of the country’smain commodities have more than doubled following the success of theGovernment’s efforts to raise their prices in the past years, PrimaryIndustries Minister Datuk Seri Dr Lim Keng Yaik said.He said the current price for palm oil had increased from RM700 per tonneto RM1,500 per tonne, while the price of Standard Malaysian Rubber (SMR20)rose from 185 sen per kilo to 306 sen per kilo.“For cocoa, the price increase is more than double, from RM3,000 per tonneto RM6,500 per tonne, and the price of timber has also increased,” he toldreporters after opening the Selangor Gerakan’s delegates’ conferencehere.Dr Lim said the comparisons were made against last February’s prices ofthe commodities.On the consortium formed between the three natural rubber producers, DrLim said he would be in Thailand next month to set up the headquarters forthe newly formalised pact between Indonesia, Thailand and Malaysia.