No plans to regulate price of Malaysian palm oil for now
The government has no plans to regulate the price of Malaysian palm oil for now. – The Malaysian Insight file pic, March 30, 2023.
The ministry affirmed this was because the price of palm oil in the market is influenced by fundamental factors and market sentiment, which changes based on demand. “These contribute to the increase in the price of palm oil in the market,” the ministry said in a written reply to a question from Senator Bobbey Suan, who wanted to know on long-term measures to regulate the price of Malaysian palm oil.
In the meantime, the ministry said it strives to ensure CPO prices remain stable in the future by taking strategic measures such as collaborating with Bursa Malaysia to launch a CPO futures contract specifically for East Malaysia known as the East Malaysia Palm Oil Futures Contract.
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