Mongabay: Malaysia and Indonesia — countries that account for more than 85 percent of global palm oil production — will cut production in an effort to shore up collapsing palm oil prices, reports The Jakarta Post. The agricultural ministers for both countries agreed to initiate a 300,000-hectare replanting program that will replace aging trees with seedlings of higher-yielding varieties. The seedlings will begin to bear oil palm fruit (“fresh fruit bunches”) for harvest in three to four …