Malaysian refiners most affected by India’s move

Forecast 2020: Maybank IB is keeping its average selling CPO price forecast for 2020 at RM2,300 per tonne. — Bloomberg

PETALING JAYA: India’s move to restrict the importation of refined palm oil are expected to put Malaysian refiners at a disadvantage, while Indonesia planters will likely to gain more market share.

According to Maybank IB Research, Indian importers will likely switch to crude palm oil (CPO) imports – buying more CPO from Indonesian planters which are more price competitive compared with planters from Malaysia.