PETALING JAYA: Demand for Malaysia's crude palm oil (CPO) is expected to remain stable despite the Indonesian government's recent decision to extend its export levy waiver for the commodity.
Given that there is a huge demand for CPO right now, Indonesia's move is not expected to have an impact on the market for the local commodity, said Plantation Industries and Commodities Minister, Datuk Zuraida Kamaruddin.
"There is nothing to be concerned about at this time, (the demand for) our CPO will not be affected. The (global) market is still short of palm oil," she told the media after her working visit to the Chocolate Museum here today.
She was commenting on a news report on Wednesday which stated that Malaysia's CPO exports are expected to fall in the next two to three months, raising the inventory by the end of December 2022 to 2.5 million metric tonnes -- the highest since April 2019.
The projection was based on Indonesia's move to reduce its CPO stocks at cheaper prices and extend its export levy waiver to Oct 31, 2022, after lifting its export ban in May.
-- BERNAMA
Bernama
Fri Sep 23 2022
Given that there is a huge demand for CPO right now, Indonesia's move is not expected to have an impact on the market for the local commodity, said Zuraida. - Astro AWANI
Australia PM plays down privacy fears of social media ban for children
Anthony Albanese says social media firms would be required to destroy personal data used to verify ages of users.
Bursa Malaysia boosted by RM250.6 mil investments from local institutions last week
Local institutions were the primary supporters of Bursa Malaysia for the fifth consecutive week.
Court orders return of 172 'Pride Collection' watches to the Swatch Group
High Court judge says the Home Ministry's seizure of the Pride watches was made without a warrant and was invalid.
New Zealand citizen poisoned by tainted alcohol in Laos returns home
Laos pledges to prosecute those responsible for the incident which has killed six tourists.
PM, Yoon hold talks on Malaysia-South Korea ties
PM Datuk Seri Anwar Ibrahim meets with South Korean President Yoon Suek Yeol at the Yongsan Presidential Office.
Max Verstappen wraps up fourth straight driver's championship
Max Verstappen faces an even bigger, and more thrilling, battle to stretch the run to five in a row next year.
Israeli army orders Gaza City suburb evacuated, spurring new wave of displacement
Families living in the targeted areas began fleeing their homes after nightfall.
Donald Trump Jr is helping his father pick the most controversial cabinet of modern times
Trump, who fiercely prizes loyalty, has long relied on family members for political advice, but which relative has his ear is known to vary.
Ringgit opens higher against US dollar
Dr Mohd Afzanizam Abdul Rashid says that US President-elect Donald Trump's cabinet selections are drawing significant attention.
Hezbollah rockets land near Tel Aviv after large Israeli strike on Beirut
Hezbollah movement fires heavy rocket barrages at Israel and Israeli military says houses had been destroyed or set alight near Tel Aviv.
Team Malaysia Junior and Senior Teams shine at ICU World Cup Korea
Team Malaysia celebrated remarkable achievements at the ICU World Cup in Korea, with the Junior Team clinching first place and the Senior Team earning a well-deserved second place.
What parents need to know about adolescent health and vaping
Nicotine is an incredibly addictive drug that produces feelings of pleasure and relaxation within seconds of inhaling a vape.
Desperate for cash, Gazans sell clothes plucked from rubble
Widespread shortages and months of grinding war have generated a trade in old clothing, mostly salvaged from homes of people who have died.
Chile's 'seed guardians' grow and protect forgotten food varieties
The guardians collect, trade and plant hundreds of seeds to preserve forgotten varieties of tomatoes, corn and other vegetables.
Saying 'no' to mobile phone use while driving
Mobile phones have become indispensable, yet their impact on road safety remains insufficiently examined.
How ASEAN's cybersecurity push could protect people and economies
ASEAN is stepping up to create a more secure regional cyberspace.
How lab-grown meat can feed our need for protein
Putting meat on people's plates is a significant contributor to global warming.
Developing nations blast $300 billion COP29 climate deal as insufficient
Some delegates gave the deal a standing ovation in the COP29 plenary hall. Others lambasted wealthy nations for not doing more.
Johor's four-and-a-half-day work week depends on state govt's rationale - Azalina
She said the state government must have valid reasons for the proposal but declined to elaborate further.
Gunman shot dead, 3 police injured in shooting near Israeli embassy in Jordan
The kingdom has witnessed some of the biggest peaceful rallies across the region as anti-Israel sentiment runs high over the war in Gaza.