Crude Palm Oil (CPO) prices have risen to $1.303 per tonne due to the rise in global demand for CPO.
However, the exports from Indonesia and Malaysia also declined, and they failed to meet global demand. This was due to a fall in CPO production in these two countries, the largest exporters.
Analysis from Palm Oil Analytics, a Singapore-based analyst, suggests that Malaysia has been facing labor issues. Malaysia depends on foreign workers, who represent 70% of its labor force.
The labor shortage in palm oil plantations is one of the reasons for the lack of production. The government has closed borders to prevent the spread of COVID-19, forcing foreign workers to return to their native countries. Currently, Malaysia is working on special permits to bring back 32,000 workers to pl...
