India urges boycott of Malaysian palm oil after diplomatic row: Sources thesundaily palmoil palm oil olein teresakok MPOB crude Malaysia India CAA Kashmir CPO Mahathir Modi
: Indian palm oil importers have effectively stopped all purchases from top supplier Malaysia after the government privately urged them to boycott its product following a diplomatic spat, industry and government sources said.
India is the world’s largest importer of palm oil, buying more than 9 million tonnes annually mainly from Indonesia and Malaysia. In 2020, Indian purchases could fall below 1 million tonnes even if some buyers make small shipments to fulfil old orders, the trader said.India’s government has not made any public remarks about Malaysian palm oil. The commerce ministry did not immediately respond to a request for comment on Monday.
Indian refiners and traders have shifted almost all palm oil purchases to Indonesia, despite having to pay a US$10 per tonne premium over Malaysian prices, four traders told Reuters.
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