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The COVID-19 pandemic and ensuing movement control orders have severely impacted the Malaysian hotel, restaurant, and institutional (HRI) industry, with a significant decline of 71.2 percent to $12.5 billion in tourism receipts in 2020.
Post is adjusting its MY 2021/22 crude palm oil (CPO) production forecast down 1.5 million metric tons (MT) from the USDA Official estimate to 18.2 million MT.
A replanting program will allocate $22.7 million to replant 83,000 ha of old palm oil estates for a three month period starting October 1 to December 31, 2015.