Malaysia’s palm oil is hit sharply by the recession.
CPO prices were 815ringitt on March 17/2008.
Today it is 287 ringitt (23/10/2008).
A swift and deep unexpected fall.
Malaysian economy will be hurt, by this turn of events.
Palm oil is the cheapest edible oil. which finds a ready market in Europe, America, India and China.and it is used in confectioneries, cooking, toiletries.,and soap.
The residue of the fruit,.after undergoing extraction ,is used as bio fertoliser.
Its fronds are utilised to make brooms and baskets.
The proposal of converting palm oil into bio diesel has found a favourable acceptance.,but the government is languishing on the scheme.
During the upswing in the prices, the government introduced cess, and windfall tax.
An unusual silence is prevalent among the governing authorities.,during the down trend in prics.
Along with the rise in prices, the expenses, in the form of fertiliser, pesticides,and labour ,proportionately increased.
Fertiliser which was 800 ringgits/ton in May 2007,was 1400 ringgits in June 2008.
The cost of application also doubled.
The Malaysian government was eager to share in the largess.
It did enjoy a valid accumulation of money in the form of tax..
Is it not bound to take part in the hard pressed state of affairs?
Will the malaysian Govenment now introduce a shoot up incentive to help the planter?
A responsible government should rush in to the rescue of the planters.
Amusing to note, why the planters remain dumb and deaf to the rapid down trend.?
This write up should catch the attention of the Malaysian Palm Oil Board and the concerned ministry.
Authorities , do not wait any further, represent your case in the world oil forum and bring a resurrection to this golden product.
Let you,try to bring back the sheen to Black Gold.
Let you,erase the darkness which encircles this most essential commodity of the world.
Palm oil Is every body’s oil.
Do not let the plantations suffer in detached solitiude.
Meenas Poems 