Malaysia is conducting a study on taxes in the palm industry and hopes to complete it next year, plantations and commodities minister Fadillah Yusof said on Monday.

Fadillah was responding to a parliamentary question on taxes "burdening" the industry. Malaysia is the world's second largest producer of palm oil.

However, he did not specify which taxes the government was reviewing.

The matter would be discussed with the ministry of finance, Fadillah said. (Reporting by Rozanna Latiff; Editing by Martin Petty)