The Palm Oil Refiners Association of Malaysia (Poram) said yesterday the move meant Malaysia would now have to compete on CPO sales to India, where Indonesia has traditionally been more cost competitive. “This puts Indonesia and Malaysia at loggerheads. There will be a price war between Indonesia and Malaysia, and we are at the losing end, ” said Poram chairman Jamil Haron.
KUALA LUMPUR: India’s restrictions on imports of refined palm oil will lead to a loss of market share for Malaysia and spark a price war with rival supplier, Indonesia, a Malaysian industry association said.
India, the world’s biggest edible oil buyer, issued a notification on Wednesday amending imports of refined palm oil to “restricted”, a move that industry sources said amounted to an effective ban.
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