The palm oil industry remains stable amid economic upheaval caused by the Covid-19 pandemic as domestic and global demand for the oil and related products remain high. – The Malaysian Insight file pic, March 25, 2020.
THE Covid-19 pandemic will not have a large impact on the nation’s oil palm industry as it continues to be supported by local and international demand, commercialisation of downstream products, exploration of new markets as well as government initiatives. Since the outbreak began in Wuhan, China, global markets have plummeted, forcing governments to reduce national expenditures and introduce stimulus programmes, while central banks have lowered the overnight policy rates to support economic growth.
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