KUALA LUMPUR, Jan 30 (Reuters) - Malaysia has delayed issuing quotas to export crude palm oil without taxes for 2012 as it drafts policy to counter competition from top supplier Indonesia, which slashed its export taxes for refined oil, sources told Reuters.
The delay by Malaysia, the world's No.2 producer, leaves more supply for local processors, but comes at a time when demand for Malaysian refined oil has fallen due to the cheaper prices of Indonesian edible oil.
Plantations holding export licences say the delay is hampering their ability to supply overseas refiners with feedstock and meet existing export contracts, putting in jeopardy Malaysia's $26 billion edible oil industry.
The delay by Malaysia, the world's No.2 producer, leaves more supply for local processors, but comes at a time when demand for Malaysian refined oil has fallen due to the cheaper prices of Indonesian edible oil.
Plantations holding export licences say the delay is hampering their ability to supply overseas refiners with feedstock and meet existing export contracts, putting in jeopardy Malaysia's $26 billion edible oil industry.
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