KUALA LUMPUR (Bernama) The oil palm plantation industry in Sabah is allowed to continue their daily operations within their respective lockdown boundaries in mitigating the spread of COVID-19.
In a joint statement today, the Malaysian Palm Oil Association (MPOA) and Malaysian Estate Owners’ Association (MEOA) said Sabah and its people would face significant losses and social-economic consequences if the state were to impose a complete shutdown of the sector.
The associations were responding to a press statement by the Sabah government that said the state and the plantation industry had reached an agreement and would roll out a joint approach in mitigating the spread of COVID-19 by implementing a voluntary 30-day lockdown in the plantation sector.
KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is likely to undergo technical correction next week with pessimistic exports outlook.
Interband Group of Companies senior palm oil trader Jim Teh said prices would likely hover between RM3,200 and RM3,300 per tonne in the coming week. The demand will also be slower, given the upcoming Chinese New Year holiday next month,” he told Bernama.
According to cargo surveyor Societe Generale de Surveillance, Malaysian palm oil products exports for the Jan 1-20 period dropped 43.3 per cent to 572,910 tonnes from 1,010,653 tonnes shipped for Dec 1-20.
Meanwhile, data from another cargo surveyor, Intertek Testing Services also showed that exports of the country’s palm oil products for Jan 1-20 fell 43.1 per cent to 607,900 tonnes from 1,067,670 tonnes for Dec 1-20.
By ROBIN McDOWELL and MARGIE MASON
They are two young girls from two very different worlds, linked by a
global industry that exploits an army of children.
Olivia Chaffin, a Girl Scout in rural Tennessee, was a top cookie seller in her troop when she first heard rainforests were being destroyed to make way for ever-expanding palm oil plantations.
Olivia, who earned a badge for selling more than
600 boxes of cookies, had spotted palm oil as an ingredient on the back of one of her packages but was relieved to see a green tree logo next to the words “certified sustainable.” She assumed that meant her
KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trade higher next week, buoyed by expectations of lower production in the coming weeks.