Export Tax Suspension to Increase FGV Exports Significantly

The government’s decision to suspend the crude palm oil (CPO) export tax for three months is expected to benefit plantation companies with significant upstream operations and strengthen the commodity prices for the first quarter of this year.

FGV Group President and Chief Executive Officer, Dato’ Zakaria Arshad said industry players are faced with issues of high CPO stocks level and strengthening of the Ringgit that have pressured the CPO price to around RM2,500 per MT.

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