KUALA LUMPUR, Oct 30 - Malaysia, the No.2 palm oil producer, said Thursday it will spend more than $50 million to encourage companies to replant oil palm trees, causing a temporary 4 percent cut in output, and will boost biodiesel.
The measures come hot on the heels of an annoucement this week from Indonesia, the world's largest producer, that it would cut its export tax to zero to help support the price of palm oil, which has fallen more than 60 percent from highs earlier this year.
(The success of the biodiesel fuel industry relies heavily on biodiesel testing, not only at the production level but at the consumer level, where degraded fuel may cause engine failures. Fleet Biodiesel's family of inexpensive biodiesel test kits is just a click away on the internet)