Breaking News-RTRS-Malaysia lays out plans to stem palm oil dive
Posted by Labels: Trader's highlightKUALA LUMPUR, Oct 13 - Malaysia, the world's second-largest producer of palm oil, laid out plans for a slew of new measures meant to stem the sharp fall in vegetable oil prices by cutting back near record-high inventories.
Malaysian palm oil prices
To help shore up the market, Malaysia may raise its quota on exports of crude palm oil by 50 percent, revive a long-stalled mandate to blend biofuel into all road diesel and encourage plantations to renew older crops rather than expand into new lands while prices are low, said Commodities Minister Peter Chin.
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