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Business In Other News 23 Jan 2020 Malaysia to buy more sugar from India to help resolve palm oil spat: sources

Business, In Other News

Malaysia to buy more sugar from India to help resolve palm oil spat: sources

REUTERS

Published : Jan 23, 2020, 10:38 am IST

Updated : Jan 23, 2020, 10:38 am IST

The company bought around 88,000 tonnes of raw sugar from India in 2019.

Kuala Lumpur: 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 criticising New Delhi over its policy on Kashmir.

Tags: sugar, export, sugarcane

Location: Malaysia, Wilayah Persekutuan, Kuala Lumpur

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