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India asks refiners to stop buying Malaysian palm oil after political row

Updated : January 07, 2020 06:54 PM IST

India is the world's biggest buyer of the oil and palm oil inventories could spike in Malaysia, putting prices under pressure if Indian refiners reduce purchases from the country.
Malaysian Prime Minister Mahathir Mohamad has angered India over his comments on India's actions in Kashmir and over a new Indian citizenship law.
Palm oil is crucial for the Malaysian economy as it accounts for 2.8 percent of Malaysia's gross domestic product and 4.5 percent of total exports.
India asks refiners to stop buying Malaysian palm oil after political row
Published : January 07, 2020 06:54 PM IST

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