Malaysia, Indonesia to spend $5m each on joint palm council's initial operations

Visual from the company website

Malaysia and Indonesia will invest $5 million each in the initial operations of a new joint palm oil body, whose tasks will include stabilising prices and managing stock levels, the countries announced on Saturday.

The council secretariat will be located in Jakarta and its membership will be extended to all oil palm cultivating countries, including Brazil, Colombia, Thailand, Ghana, Liberia, Nigeria, Papua New Guinea, the Philippines and Uganda.

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