Pakistan to Buy More Malaysian Palm OilThursday, March 5, 2020
Pakistan Prime Minister Imran Khan has pledged to buy more palm oil from Malaysia to help offset India’s cuts on Malaysian imports due to tensions between the two countries following Malaysia’s criticism of New Delhi’s actions in Kashmir and a new citizenship law.
Malaysian Prime Minister Mahathir Mohamad said on February 04 that he had discussed palm oil with Khan, who was on a visit to Malaysia, and he had indicated that Pakistan would import more from Malaysia, the world’s second largest palm oil producer.
Pakistan bought 1.1 million MT palm oil from Malaysia last year, while India bought 4.4 million MT, according to Malaysian Palm Oil Council figures. For the month of January 2020, data from Refinitiv showed Pakistan may have imported 141,500 MT of palm oil from Malaysia. Indian import from Malaysia was only 40,400 MT, a plunge from same month year-ago.