Indian buyers slash M'sian palm oil purchases fearing duty hike - traders

Indian buyers slash M'sian palm oil purchases fearing duty hike - traders

Malaysiakini - News·2019-10-15 05:06

Indian refiners have stopped buying Malaysian palm oil for shipment in November and December fearing New Delhi could raise import taxes or enforce other measures to curb imports from the Southeast Asian nation, five traders told Reuters on Monday.

Lower purchases by India, the biggest buyer of Malaysian palm oil so far in 2019, could lead to higher inventories and put pressure on Malaysian palm oil prices. It could also help rival Indonesia increase its shipments to India.

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India Trade

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