MUMBAI, Sept 19 — Farmers across Asia are busy planting trees to boost palm oil production but nurseries are struggling to keep up with demand for sprouts and seedlings, risking a delay in the industry’s recovery from the Covid-19 pandemic.
The seedlings shortfall could slow plantation, capping production growth and keeping palm oil prices FCPOc3 elevated, industry officials said, as the world already grapples with lofty inflation. Asia produces more than 90 per cent of the world’s cheapest edible oil used in cooking, baking and cosmetics.
FGV is hopeful that the US CBP will uplift its Withhold Release Order (WRO) by year-end.
KUALA LUMPUR: FGV Holdings Bhd's first quarter (Q1) 2022 net profit of RM427.6 million beat expectations, accounting for 51.4-52.5 per cent of Hong Leong Investment Bank Bhd's (HLIB Research) and consensus estimates.