Wait...
  1. Home >
  2. Export Import News >
  3. Import News >
  4. Indian edible oil industry has issued advisory to avoid import of palm oil from Malaysia

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

Indian edible oil industry has issued advisory to avoid import of palm oil from Malaysia


Date: 22-10-2019
Subject: Indian edible oil industry has issued advisory to avoid import of palm oil from Malaysia
PUNE: Indian edible oil industry body Solvent Extractors' Association (SEA) has issued an advisory to its members to refrain from importing palm oil from Malaysia.

"We have issued the following Trade Advisory to the Members of the Association to refrain from importing Palm Oil from Malaysia," said Atul Charturvedi, president, SEA in a letter addressed to its members. "The recent developments pertaining to strained relations between our Nation and Malaysia has put a lot of responsibility on our industry in view of huge imports of Palm oil from that country," he said.

The letter further mentioned: "Our Government has not taken kindly to the unprovoked pronouncements by the Malaysian Prime Minister and is contemplating some retaliatory action. It would be in fitness of things, as responsible Indian vegetable oil industry, we avoid purchasing of palm oil from Malaysia till such time clarity on the way forward emerges from Indian Government. In your own interest as well as a mark of solidarity with our Nation, we should avoid purchases from Malaysia for the time being. We trust you would heed our advise."

An earlier release from SEA had said that in the wake of the media report that Government of India may take some action to curtail the import of palm oil from Malaysia following the hostile attitude by Malaysia at the United Nation on Kashmir issue and fearing some action by Government of India, many importers and refiners have shifted their buying from Malaysia to Indonesia for Nov-Dec shipments. "The Malaysian Government is trying to cool down this issue by offering to buy larger quantity of sugar and buffalo meat from India. The confusion prevailing is not desirable and needs to be resolved immediately. It is needless to mention that India needs palm oil from both Malaysia and Indonesia and it may not be prudent to depend on only one supplier. However, we would abide by whatever decision Government of India takes. Hopefully this crisis would blow off," it had said.

Source: economictimes.indiatimes.com

Infodrive India Pvt Ltd

Delhi :
  E-2, 3rd Floor Kalkaji Main Road
      New Delhi 110019
   011 - 40703001

Kolkata :
  5th Floor Stesalit Towers,
      E-2-3, EP & GP Block,

      Sector-V, Salt Lake City,
      Kolkata-700 091
   033 - 71177191

INFODRIVE INDIA Copyright © 1996-2019 InfodriveIndia. All Rights Reserved.
Please read our Terms of Use and Privacy Policy before you use.

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+