THE WHAT? Malaysia has told its palm plantations that they are exempt from country-wide measures designed to curb the spread of coronavirus, according to a report published by Reuters.
THE DETAILS The world’s second-largest producer of the edible oil has closed its borders and shut schools and businesses until the end of the month.
“The [Commodities] Minister informed us that the Cabinet has reviewed our appeal and reasoning, and consented to allow the industry to resume operations with immediate effect,” CEO of the Malaysian Palm Oil Association, Nageeb Wahab told Reuters.
THE WHY? Accounting for 65 percent of global edible oil exports, the closure of Malaysia’s plantations would have a significant impact on commodity manufacturing worldwide.