Thursday, December 11, 2008

Breaking News-RTRS-CORRECTED-Sarawak palm oil reeling under low prices-paper

KUALA LUMPUR, Dec 10 (Reuters) - Oil palm plantation companies in Malaysia's Sarawak state have appealed for government aid to help them offset a sharp fall in prices, the Star newspaper reported on Wednesday.
In Sarawak, just 20 percent of the palm oil plantations are mature due to a rush into the commodity at peak prices, compared with 86 percent in peninsular Malaysia and 59 percent in Sabah, which means that many of the Sarawak plantations are not economically viable, the paper said.