KUALA LUMPUR (June 19): India intends to import palm oil from Malaysia as it seeks to fulfil 25 million tonnes of vegetable oil and fats for local domestic use, said Plantation Industries and Commodities Minister Datuk Dr Mohd Khairuddin Aman Razali.
In a statement today, he said this was communicated to him by Telangana’s Minister of Agriculture Singireddy Niranjan Reddy during a video conference held yesterday.

Mohd Khairuddin said the state of Telangana is seeking help from Malaysia via the transfer of technology in the areas of palm oil plantation management, palm oil processing and the ecosystem of the industry.
“We will use this opportunity to enhance Malaysia’s oil market in India through promotion and cooperation with the Telengana state government,” Mohd Khairuddin said.
Besides palm oil, Mohd Khairuddin said Telengana had also expressed interest in planting bamboo, given that Malaysia produces some of the best bamboo in the world.
As such, Malaysia is willing to share its technology and expertise for mutual benefit,” he said.
“In response, the ministry has expressed its wishes and hopes so that India, through Telangana, can promote the country's palm oil more widely as one of the vegetable oils used in food in India.
In addition, the ministry also expressed its desire to obtain a supply of sandalwood, which is a good, high-quality wood in India, for the manufacture of perfume,” said Mohd Khairuddin.
The minister added that as a commitment of both countries, there will be technical visits to strengthen cooperation that are expected to take place after the pandemic ends.
India resumed its purchase of Malaysian palm oil in May after a four-month break following a diplomatic row prompted by former prime minister Tun Dr Mahathir Mohamad’s critical comments of India’s new citizenship law and its impact on Muslim minorities in the republic.
Demand for palm oil is expected to rise as India gradually reopens its economy and seeks to replenish stock.

https://www.theedgemarkets.com/article/india-plans-import-malaysian-palm-oil-meet-high-domestic-demand-says-minister
Source: theedgemarkets.com