Illustrative photo (Source: www.thestar.com.my) New Delhi (VNA) – Malaysia andIndia will work on improving ties that turned sour under former Malaysian PrimeMinister Mahathir Mohamad and badly affected palm oil trade between thecountries, Reuters reported on March 1, quoting officials from both nations.
India is the world’s biggest palm oilimporter but its purchases from Malaysia, the second biggest palm exporterbehind Indonesia, dropped drastically in recent months.
However, with new Malaysian Prime MinisterMuhyiddin Yassin swearing in on March 1 after Mahathir’s resignation last week,Wee Ka Siong, a Malaysian lawmaker, said that mending the bilateral ties is apriority because Malaysian palm oil producers have been suffering because ofIndia’s effective ban on purchases.
He underlined that the new governmenttreasures the friendship with India.
Reuters also quoted an Indian official withknowledge of the matter as saying that India is also keen to improve bilateralties, including palm oil trading. India could also invite new Malaysian PrimeMinister Muhyiddin Yassin for a visit this year, he added.
India accounted for nearly a quarter ofMalaysia’s total palm oil exports last year and has been the biggest buyer ofMalaysian palm oil for five years. India’s curbs on Malaysian imports disruptedglobal edible oil trade flows, with Indonesia diverting supplies to India,Malaysia rushing to tap markets left behind by Indonesia and India substitutingpalm with other oils./.
India is the world’s biggest palm oilimporter but its purchases from Malaysia, the second biggest palm exporterbehind Indonesia, dropped drastically in recent months.
However, with new Malaysian Prime MinisterMuhyiddin Yassin swearing in on March 1 after Mahathir’s resignation last week,Wee Ka Siong, a Malaysian lawmaker, said that mending the bilateral ties is apriority because Malaysian palm oil producers have been suffering because ofIndia’s effective ban on purchases.
He underlined that the new governmenttreasures the friendship with India.
Reuters also quoted an Indian official withknowledge of the matter as saying that India is also keen to improve bilateralties, including palm oil trading. India could also invite new Malaysian PrimeMinister Muhyiddin Yassin for a visit this year, he added.
India accounted for nearly a quarter ofMalaysia’s total palm oil exports last year and has been the biggest buyer ofMalaysian palm oil for five years. India’s curbs on Malaysian imports disruptedglobal edible oil trade flows, with Indonesia diverting supplies to India,Malaysia rushing to tap markets left behind by Indonesia and India substitutingpalm with other oils./.
VNA
