Planters welcome CPO price threshold revision on windfall levy

THE crude palm oil (CPO) threshold price of RM2,000 per tonne under the windfall profit levy imposed on oil palm plantation companies in July 2008 has been revised to RM2,500 for Peninsular Malaysia and RM3,000 for Sabah and Sarawak under the Government’s mini budget announced yesterday.

Malaysian Estate Owners’ Association president Boon Weng Siew said most of the association members were supportive of the Govern-ment’s decision given the current low CPO price level and high cost of production situation.