The Bursa Malaysia Derivatives Exchange manages Malaysia’s crude palm oil futures contract (FCPO), which sets the global price benchmark for the world’s cheapest and most widely used edible oil.
KUALA LUMPUR: Malaysia plans to launch a new palm oil futures contract in the third quarter, allowing traders in the nation’s two largest palm producing states greater price discovery and a viable option for physical delivery.
The Bursa Malaysia Derivatives Exchange manages Malaysia’s crude palm oil futures contract (FCPO), which sets the global price benchmark for the world’s cheapest and most widely used edible oil.
“The (new) contract mirrors most of the FCPO specifications, with enhancements made to benefit Sabah and Sarawak palm oil players, ” said Samuel Ho, CEO of Bursa Malaysia Derivatives.
KUALA LUMPUR (April 7): Twelve plantation groups today voiced their opposition to the government’s decision to order the plantation sector to contribute 1% towards the Human Resources Development Fund (HRDF) Levy.
In a joint statement today, they stressed the importance of inclusive and effective engagement with the relevant stakeholders of the plantation sector on this matter.
“Such engagements will constructively facilitate towards an open and transparent platform to review the additional levy made under the expansion of the compulsory HRDF Order 2021. In doing so, this will be testimony to the government’s objective to attain win-win propositions in inclusive partnership with the private sectors, towards reviving the Malaysian economy in post-pandemic recovery period,” they said.
KUALA LUMPUR (March 12): Malaysian Palm Oil Board (MPOB) director-general Dr Ahmad Parveez Ghulam Kadir said today the additional RM2 per tonne cess or tax imposed on manufacturers of crude palm oil (CPO) and crude palm kernel oil is in line with the current uptrend in CPO prices at above RM4,000 a tonne. MPOB opines that the implementation of the new cess which was approved in 2019 is timely with the current performance of the oil palm industry, Ahmad Parveez said in a statement today.
He said the price of CPO surged to RM4,022.50 per tonne on Tuesday (March 9, 2021), its highest since March 4, 2018.
Published on: Wednesday, March 10, 2021
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(Photo by Mohd Suhaimi Mohamed Yusuf/The Edge)
Kota Kinabalu: Twelve associations representing the Malaysian palm oil supply chain are seeking Federal and State Government assistance to address various issues related to workers, taxation and market access which are affecting the industry.
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They are the Malaysian Palm Oil Association (MPOA), Malaysian Estate Owners’ Association (MEOA), National Association of Smallholders (Nash), Sarawak Oil Palm Plantation Owners Association (Soppoa), Palm Oil Millers Association (Poma), Palm Oil Refiners Association of Malaysia (Poram), Malaysian Oleochemical Manufacturers (MOMG), Malayan Edible Oil Manufacturers’ Association (Meoma), Incorporated Society of Planters (ISP), Malayan Agricultural Producers Association (Mapa), Sabah Employers Consultative Association (Seca) and Tawau Agricultural Association (TAA).
Top on the list is shortage of workers, particularly harvesters
PETALING JAYA: Oil palm industry players nationwide have made an urgent appeal to the government to effectively address critical issues such as the current severe shortage of workers, burdening cess and taxation, and market access which are eroding the industry’s competitiveness.
This appeal is made in a joint-statement by 12 associations – Malaysian Palm Oil Association, Malaysian Estate Owners’ Association, National Association of Smallholders, Sarawak Oil Palm Plantation Owners Association, Palm Oil Millers Association, Palm Oil Refiners Association of Malaysia, Malaysian Oleochemical Manufacturers, Malayan Edible Oil Manufacturers’ Association, the Incorporated Society of Planters, Malayan Agricultural Producers Association, Sabah Employers Consultative Association and Tawau Agricultural Association.