FGV says blow to China, India sales temporary

Chief Executive Officer Datuk Haris Fadzilah Hassan said India and China are the two biggest importers of palm, the world’s most consumed cooking oil.

KUALA LUMPUR: The double-whammy to palm oil demand from a trade spat with India and the coronavirus in China is likely to prove only temporary, according to FGV Holdings Bhd., one of the world’s largest producers.

That’s because supplies are low this quarter, and food and fuel demand is set to stay robust over the long term, according to Chief Executive Officer Datuk Haris Fadzilah Hassan. India and China are the two biggest importers of palm, the world’s most consumed cooking oil.