Tax exemption augurs well for palm oil industry
KUALA LUMPUR: Covid-19 hit oil palm smallholders and companies can heave a sigh of relief overt a tax exemption provided under the National Economic Recovery Plan (Penjana) that was aimed at managing the country’s stock level and stabilise the crude palm oil (CPO) price. The government on Friday announced a 100 per cent exemption on […]
India could soon return to Malaysia for palm oil
KUALA LUMPUR: India is seen as having very little choice and could soon turn to Malaysia and start importing back, especially if the Covid-19 pandemic situation in Indonesia gets worse and the country goes into full lockdown as most of the countries are doing at the very moment. “The country (India) could step up purchases in the coming […]
Palm oil refiners asks government to lift MCO on plantation industry
KUALA LUMPUR: The Palm Oil Refiners Association of Malaysia is appealing to the Sabah government to allow industry players and its supply chains to work in unison during the extended movement control order (MCO) period. This is simply to avoid operational disruption for the benefit of the consumers and economy as a whole, its chairman, […]
A tale of rubber gloves, condoms & palm oil
KUALA LUMPUR: Rubber is a blessed word in these difficult times as its transformation into gloves has proved life-saving with even the world’s largest economy singing praises of Malaysia’s gloves. The US Embassy here via its official twitter handle trumpeted the fact that 65 per cent or 225 billion pieces of the gloves used by its heroes — scientists, […]
Plantation, commodity sectors exempted from movement restriction order
KUALA LUMPUR: Workers in the plantation and commodities sector have been exempted from the Movement Control Order and are allowed to resume their work activities, said Plantation Industries and Commodities Minister Datuk Dr Mohd Khairuddin Aman Razali. He said the ministry is aware that the enforcement of the order from March 18-31 would have an […]
Malaysia to strengthen ties with India
KUALA LUMPUR: Newly-appointed Primary Industries and Commodities Minister Datuk Dr Mohd Khairuddin Aman Razali said Malaysia would strengthen its ties with India, particularly to boost palm oil exports. Relations between the two countries became strained following a political row linked to criticism of New Delhi’s actions in Kashmir and India’s new citizenship law. Mohd Khairuddin said the ministry would send a […]
Malaysia, Pakistan keen to enhance trade in commodities
KUALA LUMPUR: Malaysia and Pakistan are keen to further explore ways to enhance trade in commodities as well as avenues to further expand Malaysian palm oil’s share in Pakistan. A statement issued in conjunction with Primary Industries Minister Teresa Kok’s official visit to the country said the minister and Pakistan’s Advisor for Commerce, Textile, Industry […]
India’s latest tax revision makes palm oil more competitive
KUALA LUMPUR: New Delhi’s latest tax revision has made palm oil more competitive against the alternatives such as sunflower oil and soybean oil, which have the narrowest spread in 10 years that will boost refined palm oil exports to India in the coming months, Public Investment Bank said. As part of a bilateral agreement, India’s Ministry of […]
Riding high on bullish palm oil prices
KUCHING: Soaring palm oil prices in recent weeks have driven up the share prices of Sarawak-based plantation companies to their highest levels in about two years. The benchmark palm oil contract for March 2020 delivery on the Bursa Malaysia Derivatives Exchange hit the RM3, 000 per tonne mark and jumped RM22 to RM3,027 per tonne […]
CPO export tax unlikely to affect EU demand
KUALA LUMPUR: The reinstatement of crude palm oil (CPO) export tax starting next month is unlikely to affect demand for the local commodity in the European Union (EU), according to the Malaysian Palm Oil Council (MPOC). Its chief executive officer, Datuk Dr Kalyana Sundram, said the EU market is less troubled by the pricing mechanism […]
