Malaysia says palm oil industry faces $2.4 billion annual loss due to labour crunch

Thu Jul 01 2021
Mark Cooper (3150 articles)
Malaysia says palm oil industry faces $2.4 billion annual loss due to labour crunch

Malaysia, the world second-largest palm oil producer, is facing a labour shortfall of around 32,000 people due to corononavirus restrictions, the country’s commodities minister said on Thursday.

“The labour shortage issue is estimated to cause around 10 billion ringgit ($2.41 billion) in losses anually due to unharvested ripe palm oil fruits,” Minister Mohd Khairuddin bin Aman Razali said at a conference.

Tags Malaysia
Mark Cooper

Mark Cooper

Mark Cooper is Political / Stock Market Correspondent. He has been covering Global Stock Markets for more than 6 years.