Exclusive: Malaysia to buy more sugar from India to help resolve palm oil spat – sourcesAdministrator_India | January 23, 2020 | 0 | Forex Analysis , Online Forex Trading , Political News , Stocks , Trading With Capital Sands
Malaysia’s top sugar refiner said it will increase purchases of the commodity from India, which according to two sources is part of efforts to placate New Delhi amid an ongoing spat over palm oil.
MSM Malaysia Holdings Berhad will buy 130,000 tonnes of raw sugar from India in the first quarter, the company told Reuters. The company bought around 88,000 tonnes of raw sugar from India in 2019.
The company did not cite the palm oil dispute as a reason for the increase in purchases.
India, the world’s largest edible oil buyer, this month halted Malaysian palm oil imports in a move seen as retaliation to Malaysian prime minister’s comments criticizing New Delhi over its policy on Kashmir.