KUALA LUMPUR (Nov 15): The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended mostly higher on Monday (Nov 15), supported by strong export data for the first half of the month, a dealer said.
Few would deny that the palm oil industry has labour pains. The labour shortage has denied the industry of billions of ringgit in potential revenue. It is even more painful knowing that the world price of palm oil has hit that rare level of RM5,000 per tonne. The pandemic has disrupted the supply of foreign labour to the industry. It, therefore, came as a relief recently when the government had given the go-ahead to bring in some foreign labour.