Major palm oil producer mulls solution to supply crisis ...News

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Major palm oil producer mulls solution to supply crisis
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Malaysian commodities minister says export tax cut would be temporary Malaysia is preparing to lower its export tax on palm oil amid the global edible oil shortage and growing demand, Plantation Industries and Commodities Minister Zuraida Kamaruddin told Reuters on Tuesday. “During these times of crisis, probably we can relax a little bit so that more palm oil can be exported,” Kamaruddin said, adding that the cut is planned to be a temporary measure. She noted that the tax could be slashed from the current 8% to as low as 4%-6%. According to the official, her department has already forwarded the cut proposal to t

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