'Temporary, insignificant' - Johari on impact of India's palm oil supply disruption in Malaysia

The cancellation of purchases of crude palm oil from Malaysia by Indian oil mills following a 20 per cent hike in import duties is being seen as a temporary measure. Plantations and Commodities Minister Datuk Seri Johari Abdul Ghani said the cancellation of contracts due to the tax hike would also not have a significant impact. He added that this is because India has a large population and is the world's largest consumer of the oil. "Therefore, I believe that any such cancellation is temporary as they remain an important market for our palm oil. Malaysia will continue to be a key partner for India and we will continue to sell high-quality palm oil products. "In fact, during a meeting with my counterpart in India a few months ago, I expressed Malaysia's commitment to supporting its palm oil industry, including through technology and other avenues," he told a press conference after the Malaysian Palm Oil Forum (MPOF) today. Asked whether the country would approach the Indian ...