Indonesia and Malaysia freeze trade talks with EU over palm oil, says report

Malaysia and Indonesia are the world’s biggest palm oil producers and account for about 85 per cent of global palm oil exports. - Reuters

JAKARTA, June 1 (Reuters): Indonesia and Malaysia will delay trade talks with the European Union (EU) while they seek fairer treatment for small palm oil producers, the Financial Times had reported.

Malaysia's Deputy Prime Minister Fadillah Yusof said the EU's recently adopted law banning the import of products that come from land cleared of forests was "punitive and unfair treatment towards us and to smallholders in particular", the report added.