Malaysia, Indonesia to meet on palm oil this week
JAKARTA, Oct 29 (Reuters) - Ministers from Malaysia and Indonesia, theworld's main palm oil producers, will meet this week how to limit palm oiloutput and lift sagging prices, an official said on Monday.Hatanto Reksodipoetro, Indonesia's director general of International Tradeand Industry Cooperation, said Malaysian Primary Industries Minister LimKeng Yaik was due to meet Indonesian Trade and Industry Minister RiniSoewandi on November 2 to discuss palm oil cooperation."Minister Lim will visit Jakarta on November 2...and hold talks to enhancethe cooperation between Malaysia and Indonesia on palm oil," Reksodipoetrotold Reuters."The two may discuss cooperation to set up ways to regulate palm oilsupply to the world market in order to lift prices."Malaysia and Indonesia have been bitter rivals over market share for palmoil, partly because of an oversupply in edible oils.The two countries reached a broad deal in February on moves to liftsagging world prices and agreed to cooperate for better access in Chinaand India.But traders in both countries said no concrete action had been taken tolimit output so far.Malaysia, the world's largest producer of palm oil, last week orderedgrowers to stop planting the crop to support sliding prices of the edibleoil.