Malaysia looking to set up biodiesel price stabilization fund

In Malaysia, the Borneo Post newspaper reports that the primary industries ministry is exploring cooperation with the finance ministry to create a fund to stabilize the price of biodiesel with 3% of the export taxes lobbed on palm oil circled back to finance it. The tax is only applied to exports when palm oil prices rise above a certain level, which had up until just a few weeks ago been in the doldrums. Now that prices are expected to remain strong for the foreseeable future, the tax money could be used to support small farmers as well as subsidize biodiesel prices.