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Malaysia lockdown could spell disaster for key palm oil industry

Bloomberg
Bloomberg3/18/2020 10:5 AM GMT+08  • 2 min read
Malaysia lockdown could spell disaster for key palm oil industry
“Closing operations for two weeks will have dire consequences on the industry and the livelihoods of our 650,000 smallholders,” said Nageeb Wahab, chief executive of the Malaysian Palm Oil Association.
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(Mar 18): Malaysia’s decision to restrict movement nationwide in an effort to stop the spread of the coronavirus is raising fears it could imperil the country’s vital palm oil industry.

Prime Minister Muhyiddin Yassin said late Monday that the country will be limiting non-essential businesses operations as well as banning all visitors from entering the country and residents from traveling overseas from March 18 for two weeks.

There’s a lack of clarity on the sectors and parts of the supply chain this new directive will cover, and palm oil growers are worried that it will hamper harvesting as well as mill and refinery operations.

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