Windfall levy for palm oil may net govt over RM500m next year

BernamaPublished: Dec 12, 2020 1:02 PM

The government is expected to earn palm oil windfall profit levy of more than RM500 million in 2021 if the price of crude palm oil (CPO) remains stable at RM3,000 per tonne until next year.

Malaysian Palm Oil Board (MPOB) chairperson Ahmad Jazlan Yaakub said this is an important contribution of the palm oil industry for the plantation sector to gross domestic product (GDP) as the country grapples with the Covid-19 pandemic...

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