Malaysia says palm oil dispute with India is ‘temporary’
Tue Feb 04 2020
Nikki Bailey (1048 articles)

Malaysia says palm oil dispute with India is ‘temporary’

Malaysia said on Tuesday that India’s move to cut back on palm oil purchases from the Southeast Asian nation is “temporary” and will be resolved amicably between the two nations.

Last month, India restricted imports of refined palm oil and asked importers to avoid purchases from Malaysia after its criticism of India’s actions in Kashmir and a new citizenship law.

“Having long-standing bilateral ties, the two nations will overcome the current challenges, and prevail towards mutual and beneficial outcomes,” the Malaysian Palm Oil Council said in a statement, citing Primary Industries Minister Teresa Kok.

Malaysia’s push to implement B20 biodiesel starting this month will also help sustain high crude palm oil prices, the statement read.

Nikki Bailey

Nikki Bailey

Nikki Bailey reports on US Stocks. She covers also economy and related aspects. She has been tracking US Stock markets for several years now. She is based in New York

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