India resumes purchase of Malaysian palm oil

Leading Indian importers last week contracted up to 200,000 tonnes of crude palm oil from Malaysia, the world’s No. 2 producer after Indonesia, to be shipped in June and July, the sources told Reuters.

MUMBAI: Indian buyers have resumed purchase of Malaysian palm oil after a four-month gap following a diplomatic row, with buying spurred by a fall in domestic inventories and discounted prices, trade sources said.

The renewed purchases come amid improving trade relations between the two countries after the formation of a new government in Kuala Lumpur, with Malaysia signing a deal last week to buy a record 100,000 tonnes of Indian rice.