Chief executive officerMPOA welcomes the allocation of RM70mil for the campaign to increase the level of sustainability of the oil palm industry. The association awaits the details on tax incentives for mechanisation and automation for the commodity sector.
However, MPOA’s call for review of the windfall profit levy was not included in the budget. This is a burden on the palm oil sector which operates as a “price taker and not a price maker.” In view of the increased in the cost of production, MPOA had highlighted to the government about a revision of the WPL price threshold by RM500 per tonne crude palm oil from RM3,000 to RM3,500 per tonne for growers in Peninsular Malaysia, and from RM3,500 to RM4,000 per tonne for Sabah and Sarawak.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: