Malaysia to Channel 50% of CPO Windfall Tax to Biofuel Fund

At least 50 percent of the crude palm oil (CPO) windfall tax will be channelled to the biofuel stabilisation fund, which is expected to be set up within the first quarter of this year, says Primary Industries Minister Teresa Kok, the Bernama news agency reported on January 07. She told reporters at the sidelines of the “We Love Palm Oil” forum on that day.  

Earlier in the forum, she said the government aimed for 70 percent of the nation’s oil palm cultivation areas to be Malaysian Sustainable Palm Oil (MSPO)-certified by March this year.  “As of January 6, about 62.4 percent or 3.65 million hectares out of 5.85 million hectares of oil palm plantations in Malaysia are MSPO-certified, including 341 of 452 mills in the country,” she added.