Malaysia Seeking to Boost Palm Oil
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Malaysia’s extension of tax-free exports of crude palm oil until the year-end is intended to support prices and curb the buildup of reserves, said Plantation Industries and Commodities Minister Douglas Uggah Embas.
“We hope this will continue to prevent any drastic fall in the price,” Uggah said in an interview after the government announced the decision for November and December in the budget on Oct. 10. “There is a need to give time for the exporters to organize the whole machinery including shipping and so on and so forth. Now we’re giving them an additional two months.”