Indian buyers slash Malaysian palm oil purchases fearing duties

[prasadr]

MUMBAI (Reuters) - Indian refiners have stopped buying Malaysian palm oil for shipment in November and December fearing New Delhi could raise import taxes or enforce other measures to curb imports from the Southeast Asian nation, five traders told Reuters on Monday.

 

Lower purchases by India, the biggest buyer of Malaysian palm oil so far in 2019, could lead to higher inventories and put pressure on Malaysian palm oil prices FCPOc3. It could also help rival Indonesia increase its shipments to India.

India is considering restricting imports of some products from Malaysia including palm oil after Kuala Lumpur criticized New Delhi for its actions in Kashmir, Reuters reported on Friday.

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.

“We need clarity before doing business with Malaysia,” said a Mumbai-based dealer.

His trading firm was about to buy 5,000 tonnes palm oil on Friday from Malaysia for November shipment but decided not to proceed after reading about potential disruptions.

If the government did not provide clarity in coming days, the trader said he would buy from Indonesia.

Malaysian palm oil futures slumped for a second straight day on Monday due to concerns about the possible Indian import restrictions and weakness in related edible oils.

 

https://www.reuters.com/article/us-india-malaysia-palmoil-exclusive/exclusive-indian-buyers-slash-malaysian-palm-oil-purchases-fearing-duty-hike-traders-idUSKBN1WT19V

[prasadr]

Great to see India using the trade imbalance to Hit the Islamist Mahathir in the nuts.

 

let this bigot go to his people and explain why the palm oil exports to India have decreased.

Next to target is the number of tourists visiting Malaysia.

 

Hit these b@stards in their pockets.

[soodhilodaaram]

53 minutes ago, prasadr said:

Great to see India using the trade imbalance to Hit the Islamist Mahathir in the nuts.

 

let this bigot go to his people and explain why the palm oil exports to India have decreased.

Next to target is the number of tourists visiting Malaysia.

 

Hit these b@stards in their pockets.

sanctions imposed on Turkey #AnotherGoodNews

[Hydrockers]

53 minutes ago, prasadr said:

Great to see India using the trade imbalance to Hit the Islamist Mahathir in the nuts.

 

let this bigot go to his people and explain why the palm oil exports to India have decreased.

Next to target is the number of tourists visiting Malaysia.

 

Hit these b@stards in their pockets.

G lo dammu unte petrolium products kuda imports ban cheyamanu islamic countries nunchi

[akumm_bakkumm2]

31 minutes ago, Hydrockers said:

G lo dammu unte petrolium products kuda imports ban cheyamanu islamic countries nunchi

Issue is not with islamic countries. The issue is with their stand on the internal matter of India. UAE, Iran etc said 370 is India’s internal matter and they dont want to interfere.

[prasadr]

2 hours ago, Hydrockers said:

G lo dammu unte petrolium products kuda imports ban cheyamanu islamic countries nunchi

 

You do realize oil market is slowly turning into a buyers market...

[jpismahatma]

4 hours ago, Hydrockers said:

G lo dammu unte petrolium products kuda imports ban cheyamanu islamic countries nunchi

Half knowledge sulligadu 

[AndhraneedSCS]

India lo Palm Oil farmers chala mandi ki prices ravadam ledu .. innallu Malaysia nundi vadaru... Ippudu kuda tarrifs veyyaledu .. Just 2 months agi malli mamule...

 

Desam lo 50% paina agriculture meeda depend avutunnaru in a country of 130 Crores. Inka bayata desala nundi anni techukuntunnam... too bad for Indian Farmers.

[Variety_Pullayya]

1 hour ago, AndhraneedSCS said:

India lo Palm Oil farmers chala mandi ki prices ravadam ledu .. innallu Malaysia nundi vadaru... Ippudu kuda tarrifs veyyaledu .. Just 2 months agi malli mamule...

 

Desam lo 50% paina agriculture meeda depend avutunnaru in a country of 130 Crores. Inka bayata desala nundi anni techukuntunnam... too bad for Indian Farmers.

enduku local ga konatam ledu. why is it cheaper to import ? mana country lo kuda labor costs thakkuve kada