KUALA LUMPUR (Reuters – Malaysia’s Commodities Ministry has stated that on Friday it met with Finance Ministry officials to discuss the feasibility of reducing an export tax for palm oil from 4%-6% to 4%.

Minister Zuraida Kamaruddin released a statement saying that “this proposed temporary cut” is still pending. He stated, “We believe that Malaysian Exporters will be the clear winners in short term because global buyers will source Malaysian Palm Oil.”