India expected to buy more Malaysian palm oil, says deputy minister
India raised the import tax on refined palm oil from Malaysia for six months starting September 4 to protect and spur its palm oil refining industry and reduce dependence on vegetable oil imports. – EPA pic, December 11, 2019.
INDIA is expected to buy more Malaysian palm oil in the near term after the country’s imports of the commodity contracted by 60% in October following its import tax hike on refined palm oil from Malaysia. Deputy Primary Industries Minister Shamsul Iskandar Mohd Akin said India raised the import tax on refined palm oil from Malaysia for six months starting September 4 to protect and spur its palm oil refining industry and reduce dependence on vegetable oil imports.
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