, 6 tweets, 2 min read
Thread: #India may restrict imports of palm oil, other goods from #Malaysia - India’s government was angered after Malaysian Prime Minister Mahathir alleged last month at the United Nations that India had “invaded and occupied” Jammu and Kashmir reuters.com/article/us-ind…
India is considering restricting imports of some products from Malaysia including palm oil, according to government and industry sources, in reaction to the Southeast Asian country’s leader slamming New Delhi for its actions in Kashmir.
New Delhi is looking for ways to limit palm oil imports and may place restrictions on other goods from the country, said a government source and an industry source who participated in discussions led by the Ministry of Commerce and Industry on the planned restrictions.
The government wants to send a strong signal of its displeasure to Malaysian authorities. India, the world’s biggest importer of edible oils, is planning to substitute Malaysian palm oil with supplies of edible oils from countries like Indonesia, Argentina and Ukraine.
Palm oil accounts for nearly two-thirds of India’s total edible oil imports. India buys more than 9 million tonnes of palm oil annually, mainly from Indonesia and Malaysia.
My take: Mahathir's speech at the UN against India is going to cost #Malaysia about $2 billion a year in exports for the 3 million tons of palm oil they export to #India. Maybe more if other products are added.
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