Malaysia’s Prime Minister Mahathir Mohamad on Monday said China was likely to buy more palm oil from his country in exchange for his government’s decision to resume work on a Beijing-backed rail project following renegotiations that shaved off nearly a third of the cost.Mahathir said in a press conference that the price reduction of 21.5 billion ringgit (US$5.2 billion) – dropping the project’s cost from more than 65 billion ringgit to 44 billion ringgit – announced on Friday was partly made…