Breaking News-RTRS-UPDATE 2-Malaysia ponders steps to tackle plunging palm oil

KUALA LUMPUR, Oct 21 (Reuters) - The Malaysian government postponed a parliamentary meeting meant to address tumbling palm oil prices but pledged to take "prudent measures" to support small planters who could be hit hard if prices continue to fall.
Malaysia had been expected to announce steps on Tuesday to staunch the fall in prices at the meeting headed by Prime Minister Abdullah Ahmad Badawi, but instead opted to move back the meeting to Oct. 30. A leading industry analyst warned that the worst of the sell-off was not yet over.
Deputy Prime Minister Najib Razak told a planters group that Malaysia, the world's second largest palm producer, was taking the impact of falling palm oil prices "seriously", although it would not take any panicky action.