“India’s restrictions on shipments of farm commodities are bad for Malaysia”, Ghani said on the sidelines of an event organised by the Indian Vegetable Oil Producers’ Association.
Malaysia on Thursday requested India to lift restrictions on exports of commodities such as rice and sugar, Datuk Seri Johari Abdul Ghani, minister for plantation and commodities said.
“India’s restrictions on shipments of farm commodities are bad for Malaysia”, Ghani said on the sidelines of an event organised by the Indian Vegetable Oil Producers’ Association.
Last year, India, the world’s biggest exporter of rice and onions and the second-biggest exporter of sugar, had imposed restrictions on shipment of these commodities to keep domestic prices under check.
Later, Ghani said ‘both countries have good relations and they are looking at putting a system in place to ensure smooth trade of essential items, particularly foodgrains and related commodities, even when there are export restrictions”. He stated that close to 25% of Malaysians prefer to consume basmati rice.
The Malaysian minister also met agriculture minister Shivraj Singh Chauhan, offered its support in research and development, seed supply and management expertise to India in its oil palm mission.
Under the the National Mission for edible oils – oil palm launched in August 2021, aims at increasing crude palm oil production to 1.12 million tonne (MT) FY26. India imported 9.76 MT of palm oil from mostly Malaysia and Indonesia in the oil year 2022-23 (October-September)
“Malaysia stands ready to provide invaluable support, encouraging the growth of oil palm cultivation. India’s importance to Malaysia’s oil palm sector cannot be understated,” Ghani stated.
In response to a question, he said Malaysia doesn’t see any fall in export of palm oil to India, considering the growing demand of edible oil. “There is no replacement of palm oil in future,” Ghani noted.
According to Ghani, Malaysia exported 3 MT of palm oil to India in 2023 and the country produces 18.6 MT of palm oil, out of which 80% is exported. India has been the largest buyer of Malaysian palm oil for over 14 years.
Source:financialexpress.com