Malaysia may cut palm oil export tax by half

Plantation Industries and Commodities Minister Datuk Zuraida Kamaruddin said in an interview with Reuters yesterday her ministry has proposed the cut to the finance ministry, which has set up a committee to look into the details.

KUALA LUMPUR: Malaysia’s commodities ministry has proposed cutting the export tax on palm oil by as much as half to help fill a global edible oil shortage and grow the market share of the world’s second-largest palm oil producer.

Plantation Industries and Commodities Minister Datuk Zuraida Kamaruddin said in an interview with Reuters yesterday her ministry has proposed the cut to the finance ministry, which has set up a committee to look into the details.