India effectively stops all Palm Oil imports from Malaysia - Nasdaq

[Zane_K]

I think Indonesia has a great opportunity to make a few bucks here... they should raise their prices further.

Spoken like a true capitalist...

 

[Hephaestus]

This old fellow mahathir wanted to be a hero in Pakistan.. is he or his country powerful than Saudi or US ?when those countries kept their mouths shut knowing the huge market India has,why this old fellow has to unnecessarily open his mouth regarding issues which are not relevant to him..we should hit him even harder...we shouldn't spare turkey too.

Don't think Saudi's are too happy with him either.

 

[Taimoor Khan]

Great opportunity for Malaysia to start cleaning their land from all the Indian economic migrants. Now they have all the justification they needed.

 

[American Pakistani]

Why Malaysia don't expel thousands of Bharti economic migrants who are supporter of Indian terrorist group hindraf an offshoot of ltte terrorist group.

Look at these himdutva terrorists destroying Malaysia. A lesson for bharat appeasers UAE ksa Irani Omani, etc

 

[Ritual]

This old fellow mahathir wanted to be a hero in Pakistan.. is he or his country powerful than Saudi or US ?when those countries kept their mouths shut knowing the huge market India has,why this old fellow has to unnecessarily open his mouth regarding issues which are not relevant to him..we should hit him even harder...we shouldn't spare turkey too.

But why don’t you hit China too when they are taking a clear stand, or are you just scared of them and think its easier to complain about Malaysia?

 

[Ahmad Bhutta]

Now Malaysia should introduce its own NRC bill and send Indian Hindus back to India

 

[Lincoln]

This old fellow mahathir wanted to be a hero in Pakistan.. is he or his country powerful than Saudi or US ?when those countries kept their mouths shut knowing the huge market India has,why this old fellow has to unnecessarily open his mouth regarding issues which are not relevant to him..we should hit him even harder...we shouldn't spare turkey too.

Some people have self respect, I know India is devoid of any so they don't understand why someone is choosing what is right over money and bank.

 

[BATMAN]

In comparison, when Pakistan army blocked Indian air transit, political leadership of Pakistan demanded resumption of Indian transit.

 

[Kaniska]

Indian palm oil importers have effectively stopped all purchases from Malaysia after the government privately warned them to shun product from the country following a diplomatic spat, industry and government sources said.

The warning, issued last week, comes almost in parallel with New Delhi's move to restrict imports of refined palm oil and palmolein after Malaysia's Prime Minister criticised India's actions in Kashmir and its new citizenship law.

Currently, Indian buyers are not making any crude or refined palm oil purchases from top supplier Malaysia, at least five industry sources familiar with the matter told Reuters.


"Officially there is no ban on crude palm oil imports from Malaysia, but nobody's buying due to government's instructions," said a leading refiner, adding that buyers now import from Indonesia despite paying a premium to prices in Malaysia.

India is the world's largest buyer of palm oil and the move to effectively block imports from Malaysia could put pressure on palm oil prices in Malaysia and push up palm oil inventories in the country.

Malaysian prices FCPOc3 set the global benchmark for palm oil prices. The move could also benefit Indonesia - the world's largest exporter of crude palm oil (CPO).

"We could import CPO from Malaysia, but the government has warned: 'Don't come to us if your shipments get stuck,'" said a Mumbai-based trader, adding "no one wants to see their shipments get stuck at ports."

India's government has not made any public remarks about Malaysian palm oil. The commerce ministry did not immediately respond to a request for comment on Monday.

Palm oil accounts for nearly two-thirds of India's total edible oil imports. India buys more than 9 million tonnes of palm oil annually, mainly from Indonesia and Malaysia.

Indian refiners and traders have shifted almost all palm oil purchases to Indonesia, despite having to pay a $10 per tonne premium over Malaysian prices, four traders told Reuters.

Malaysian crude palm oil for February shipment was available at $800 a tonne on a free-on-board (FOB) basis, compared to $810 from Indonesia, traders said.

"Like everyone else, we are paying a premium for Indonesian supplies. For a small profit we can't gamble," said a refiner based at Kolkata

https://www.nasdaq.com/articles/exc...-against-malaysian-imports-sources-2020-01-13

India stopped buying only refined palm oil and increased procurement of crude palm oil from Malaysia too. On top of that Malaysia enjoyed 5% custom rebate in comparison tp Indonesia.That rebate for Malaysian pam oil is withdrawn.

 

[fitpOsitive]

Indian palm oil importers have effectively stopped all purchases from Malaysia after the government privately warned them to shun product from the country following a diplomatic spat, industry and government sources said.

The warning, issued last week, comes almost in parallel with New Delhi's move to restrict imports of refined palm oil and palmolein after Malaysia's Prime Minister criticised India's actions in Kashmir and its new citizenship law.

Currently, Indian buyers are not making any crude or refined palm oil purchases from top supplier Malaysia, at least five industry sources familiar with the matter told Reuters.


"Officially there is no ban on crude palm oil imports from Malaysia, but nobody's buying due to government's instructions," said a leading refiner, adding that buyers now import from Indonesia despite paying a premium to prices in Malaysia.

India is the world's largest buyer of palm oil and the move to effectively block imports from Malaysia could put pressure on palm oil prices in Malaysia and push up palm oil inventories in the country.

Malaysian prices FCPOc3 set the global benchmark for palm oil prices. The move could also benefit Indonesia - the world's largest exporter of crude palm oil (CPO).

"We could import CPO from Malaysia, but the government has warned: 'Don't come to us if your shipments get stuck,'" said a Mumbai-based trader, adding "no one wants to see their shipments get stuck at ports."

India's government has not made any public remarks about Malaysian palm oil. The commerce ministry did not immediately respond to a request for comment on Monday.

Palm oil accounts for nearly two-thirds of India's total edible oil imports. India buys more than 9 million tonnes of palm oil annually, mainly from Indonesia and Malaysia.

Indian refiners and traders have shifted almost all palm oil purchases to Indonesia, despite having to pay a $10 per tonne premium over Malaysian prices, four traders told Reuters.

Malaysian crude palm oil for February shipment was available at $800 a tonne on a free-on-board (FOB) basis, compared to $810 from Indonesia, traders said.

"Like everyone else, we are paying a premium for Indonesian supplies. For a small profit we can't gamble," said a refiner based at Kolkata

https://www.nasdaq.com/articles/exc...-against-malaysian-imports-sources-2020-01-13

And for how long.

 

[Kaniska]

There is good news for Pakistan & Malaysia. Pakistan can enhance their purchase of Palm oil from Malaysia and crude price on FOB is getting lower. I do not think, in the long run, it will impact Malaysia if Malaysia can get additional orders from China, Pakistan and other countries to fill this gap.

https://www.arabnews.com/node/1612166/business-economy

 

[Nityam]

There is good news for Pakistan & Malaysia. Pakistan can enhance their purchase of Palm oil from Malaysia and crude price on FOB is getting lower. I do not think, in the long run, it will impact Malaysia if Malaysia can get additional orders from China, Pakistan and other countries to fill this gap.

https://www.arabnews.com/node/1612166/business-economy

1. India is THE LARGEST buyer and consuer of palm oil. India CANNOT be replaced by china. NO ONE can replace India.

2. 90% of Indonesian Palm oil is owned and controlled by Malaysian companies.

 

[Pyara9]

If Malaysia is serious about hitting back at India they will find a way.. I'm sure India exports more then cheap labor.. so bring it on..

Also palm oil only accounts for 4.5% Malaysian Gdp. With India gone maybe their gdp will drop by 1%? Or not even?

 

[Nityam]

If Malaysia is serious about hitting back at India they will find a way.. I'm sure India exports more then cheap labor.. so bring it on..

Also palm oil only accounts for 4.5% Malaysian Gdp. With India gone maybe their gdp will drop by 1%? Or not even?

LOL. Malaysia is serious about saying sorry to India.

Just watch out for how that will be done.

 

[Ultima Thule]

LOL. Malaysia is serious about saying sorry to India.

Just watch out for how that will be done.

LOL India is Not superpower, oh i forget, you had become hyper power of the Universe on 1/1/2020
And whole world is not revolving around India