UPDATE 1-Malaysia to replant palm, push for biodiesel

Newswire

(Adds details, quotes) KUALA LUMPUR, Oct 30 (Reuters) - Malaysia will spend over $50 million to encourage replanting of palm oil trees to cut annual output, and will mandate the blending of biodiesel into transport fuel, the country's prime minister said on Thursday. But the world's second largest palm oil producer did not cut a windfall tax on crude palm oil exports, a measure many in the industry have urged to counter a 62 percent fall in prices from a peak in March. "We are taking ...

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