KUALA LUMPUR (Reuters) – Malaysia’s Commodities Ministry on Friday said it is in discussions with the Finance Ministry to look into the viability of slashing an export tax on palm oil to 4%-6%.

“This proposed temporary cut is pending a decision and we believe that Malaysian exporters are likely to be clear winners in the short term as global buyers will source for Malaysian palm oil,” minister Zuraida Kamaruddin said in a statement.

(Reporting by Mei Mei Chu; Editing by Ed Davies)