Imperative for planters to improve yields

Quick Summary:

While Budget 2025 introduced several key measures aimed at fostering economic growth and social equity, its implications on the labour-intensive sectors like plantations, particularly the palm oil industry, are raising concerns about the rising cost implications they face.

Moreover, with rising production costs, the palm oil industry could risk losing its competitive advantage to Indonesia, where labour costs are lower, they said.

Roslin meanwhile said MPOA advocates for a more flexible WPL framework that adjusts levy rates based on market conditions.“A dynamic approach would provide relief during periods of low palm oil prices, ensuring companies are not overburdened in challenging market conditions,” he said.

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Article Details

Author / Journalist: KIRENNESH NAIR

Category: EconomyBusiness

Markets: MalaysiaIndonesia

Topics: PalmOilIndustry ProfitMargins Budget2025 /Business/Business News Commodities LabourIntensive MinimumWageHike Mechanisation RisingCosts

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-24 @ 00:00:00 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 1191 words

Reading Time: 7 minutes read

Sentences: 37 lines

Sentence Length: 33 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 23217720

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About The Star

Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 16 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 7 hours ago

Coverage Areas: Malaysia

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Publication Timezone: GMT +8:00

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Publisher ID: #22

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