Commodities

India palm import curbs to start Malaysia, Indonesia price war- association

India's restrictions on imports of refined palm oil will lead to a price war between the world's two biggest suppliers of the commodity, Indonesia and Malaysia, the Palm Oil Refiners Association of Malaysia said on Thursday.

KUALA LUMPUR, Jan 9 (Reuters) - India's restrictions on imports of refined palm oil will lead to a price war between the world's two biggest suppliers of the commodity, Indonesia and Malaysia, the Palm Oil Refiners Association of Malaysia said on Thursday.

The Indian Ministry of Commerce and Industry issued a notification on Wednesday declaring that the import of refined palm oil "is amended from 'Free' to 'Restricted.'

"This puts Indonesia and Malaysia at loggerheads," Jamil Haron, chairman of Palm Oil Refiners Association of Malaysia, told Reuters. "There will be a price war between Indonesia and Malaysia, and we are at the losing end."

(Reporting by Mei Mei Chu; Editing by Christian Schmollinger)

((Krishna.Das@tr.com; +60 18661 7562, +60323338022; Reuters Messaging: Twitter: https://twitter.com/krishnadas56))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Commodities Videos

#TradeTalks: Underlying Deflationary Pressures – Commodity Review

Jill Malandrino is joined by Peter Borish, Chief Strategist at Quad Group, to discuss deflationary pressures as well as the commodity review.

Feb 7, 2020

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More