KUALA LUMPUR: Malaysian plantations are faced with two new government tax initiatives, which could weigh heavily on their earnings, says RHB Research.
In the tabling of Budget 2022 last Friday, the government said it had increased the windfall tax threshold for Peninsular Malaysia to RM3,000 a tonne from RM2,500 a tonne, and for East Malaysia, from RM3,000 a tonne to RM3,500 a tonne.
KUALA LUMPUR (Oct 28): The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended lower, tracking the overnight soybean oil’s losses on the Chicago Board of Trade (CBOT), Palm oil trader David Ng said. He said the CPO prices were also dragged down by lower crude oil prices, weakening the current sentiment.
KUALA LUMPUR: Palm oil production in Malaysia is on course for its weakest showing in five years as planters grapple with the worst-ever labour shortage, and the low yields are likely to last through March. The country’s output may slide below 18 million tonnes this year, according to Datuk Nageeb Wahab, chief executive at the Malaysian Palm Oil Association, a growers’ group that represents 40% of palm plantations by area.
KUALA LUMPUR (Oct 26): The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed higher on Tuesday, as concerns over weaker output continued to lift sentiment in the near term. Palm oil trader David Ng said lower output would put a pressure on the overall stock level in the country.