India may curb imports from Turkey, Malaysia over J&K stand
New Delhi/Mumbai: India is considering restricting imports of some products from Malaysia, including palm oil, and also Turkey, according to government and industry sources, in reaction to the countries’ leaders criticising New Delhi for its actions in Kashmir.
India is looking for ways to limit palm oil imports and may place restrictions on other goods from the country, said a government source and an industry source who participated in discussions led by the commerce and industry ministry on the planned restrictions.
New Delhi was angered after Malaysian PM Mahathir Mohamad said last month at the United Nations that India had “invaded and occupied” J&K and asked it to work with Pakistan to resolve the issue.
The government wants to send a strong signal of its displeasure to Malaysian authorities, the sources said. India is the world’s biggest importer of edible oils. Palm oil accounts for nearly two-thirds of India’s total edible oil imports. India buys more than 9 million tons of palm oil annually, mainly from Indonesia and Malaysia. In the first nine months of 2019 India was the biggest buyer of Malaysian palm oil. New Delhi is looking at Indonesia, Argentina and Ukraine as alternative sources of palm oil.
A spokeswoman for India’s commerce ministry said the ministry could not comment on things under consideration.
Malaysia’s PM said he had not received “anything official” from India on the matter.
The news prompted Malaysian palm oil futures to snap five days of gains to end lower on Friday evening.
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