KUALA LUMPUR: India may boost palm oil purchases from Malaysia after the second-largest producer announced a shakeup of export-tax policy that takes effect from Jan 1, according to the Solvent Extractors’ Association of India.
At present, the country imported 80% of its crude palm oil from Indonesia and 20% from Malaysia, and that ratio might shift to 60:40 or even 50:50, executive director BV Mehta told reporters. Buyers would have to watch how Indonesia, the world’s biggest producer, react, he said.
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