KUALA LUMPUR, The government is proposing to raise the windfall profit levy (WPL) threshold for oil palm fresh fruit bunches (FFB) to RM3,150 for Peninsular Malaysia and RM3,650 for Sabah and Sarawak.

Prime Minister Datuk Seri Anwar Ibrahim, who is also the Finance Minister, also announced that the structure of the market price range and the export duty rates for crude palm oil will be revised starting Nov 1, 2024.

‘The current treatment for crude palm oil exports from Sabah and Sarawak will also be maintained,’ he said while tabling the Budget 2025 in Parliament today.

He added that incentives for smallholders to replant oil palm, replacing old, unproductive trees will also be continued, with an allocation of RM100 million.

Source: BERNAMA News Agency