Malaysia to buy more sugar from India to help resolve palm oil spat: sources
23 Jan 2020 5:09 AM GMT
The company bought around 88,000 tonnes of raw sugar from India in 2019.
Chief Minister Y.S. Jagan Mohan Reddy assured that steps will be taken to reopen the Chennur sugar industry. DC file photo
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.
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