Thursday, November 6, 2008

Breaking News-RTRS-MALAYSIA MAY KEEP WINDFALL TAX ON PALM OIL DESPITE FALLING PRICES - COMMODITIES MINISTER

JAKARTA, Nov 6 (Reuters) - It was not necessary to consider scrapping a Malaysian windfall tax on palm oil products at the moment, Malaysian Plantation and Commodities Minister Peter Chin told Reuters on Thursday.
"In our last discussion with the finance minister if prices come to 2,000 ringgit then you have to make a decision (on the windfall tax)," Chin said during a visit to the Indonesian capital.
"But right now, it is irrelevant. There is no need to make a decision just yet," he said.