AGRICOMMODITY IN THE NEWS & MEDIA 2021



The private sector is best placed, and in many cases expected, to take the lead in ensuring that labour issues in the supply chains are understood, investigated and addressed, Malaysian Palm Oil Council (MPOC) said. NSTP/ABDULLAH YUSOF

KUALA LUMPUR: The private sector is best placed, and in many cases expected, to take the lead in ensuring that labour issues in the supply chains are understood, investigated and addressed, Malaysian Palm Oil Council (MPOC) said.
The council said one of the most pressing questions for larger companies had been the unethical recruitment and treatment of workers within their supplier networks.

MERCURY Securities Sdn Bhd has cut Sarawak Oil Palm Bhd’s (SOP) financial year 2022 (FY22) earnings per share (EPS) forecast to 40 sen from 52 sen previously on expectations of lower fresh fruit bunches (FFB) production due to the labour shortage in the industry.

The forecast EPS was also cut due the possibility of a higher corporate tax of 34% the company may have to pay in the year as stated in Budget 2022.



KUALA LUMPUR (Dec 22): The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed higher on Wednesday in tandem with the stronger soybean oil performance on the US Chicago Board of Trade (CBOT), said a dealer.
Palm oil trader David Ng said gains were also supported by the expectation of weaker output in the coming weeks.