PALM OIL NEWS 2022



KUALA LUMPUR (Oct 12): The Malaysian Palm Oil Association’s (MPOA) chief executive Joseph Tek Choon Yee has urged the East Malaysian states and federal governments to revise the state sales tax (SST) and windfall profit levy (WPL), respectively, that are imposed on East Malaysian oil palm growers.

Tek said the proposed price threshold review of the SST in Sabah and Sarawak would take into account the current high cost of palm oil production, while the windfall tax should be revised back to the original 1.5% from the present 3%, after factoring in the existing SST.

SUMBER: THE STAR, MS 12
13 OKTOBER 2022



KUALA LUMPUR (Oct 11): Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives snapped last week’s winning streak and finished easier on Tuesday (Oct 11), after an official crop report showed that the inventory level is high, palm oil trader David Ng said.

He said the Malaysian Palm Oil Board report reflected on weak demand and rising production.