INDIA is likely to import more palm oil from Indonesia amid the Government’s informal advisory to refiners not to buy the commodity from Malaysia following its remarks on the new citizenship law and Kashmir issue, according to Government and industry sources.
The Commerce Ministry held a detailed meeting with edible oil industry stakeholders and asked them informally to avoid purchase of Malaysian palm oil, a Government source said. India, the world’s largest importer of vegetable oils, buys nearly 15 million tonne annually. Of this, palm oil comprises 9 million tonne and the rest 6 million tonne is soyabean oil and sunflower oil. India import 30 per cent of the palm oils from Malaysia, while 70 per cent from Indonesia.