IOI’s Sudhakaran Nottath Bhaskaran says the return of foreign workers has accelerated oil palm harvesting.
Good rainfall over the past two years is also boosting the formation of fresh fruit bunches, he said during a field visit to an IOI estate in Johor. The brighter outlook for production has helped put pressure on prices, which are trading around a 30-month low after soaring to a record last year. The return of overseas workers is a welcome relief for the nation’s palm oil plantation companies after the chronic labor shortages meant estates lost an estimated RM20 billion last year.
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