Top buyer India to favour Malaysian palm oil

In demand: A worker harvesting oil palm at a plantation in Selangor. Heavy levies by Indonesia are encouraging Indian refiners to buy from Malaysia.

JAKARTA: India is likely to buy more Malaysian palm oil after export levies imposed by top producer Indonesia hit record highs in the past year, B V Mehta, executive director of India’s Solvent Extractors’ Association, said yesterday.

Indonesia had imposed higher export taxes and levies in the past year, making prices of palm oil – which had already reached record highs this year – more costly for the top buyer.