Malaysia keen to buy rice and sugar from India

19-Jul-2024 04:30 PM

New Delhi. Malaysia's Plantation and Commodities Minister has said that export of palm oil to India will continue and Indian Oil Palm Mission will also be given proper cooperation and support. About one-fourth of the annual export of palm oil from Malaysia is shipped to India alone. 

The Plantation Minister says that Malaysia would like to enter into a mutual agreement with India so that import of products like rice and sugar from India can be ensured.

Similarly, it can also help in continuing the export of palm oil. Such an arrangement should continue even if any control-restriction is implemented officially. 

The Malaysian minister said that even without an agreement, Indian products can be imported to Malaysia, as is happening in the case of rice.

It is known that Malaysia is importing non-basmati white rice from India at the government level (through diplomatic channel).

But the Plantation Minister clarified that Malaysia is not in favor of any barter trade. Bilateral trade should be based on open market prices.

If farmers do not get market prices, they may be dissatisfied. A total of 148 lakh tonnes of palm oil was exported from Malaysia in January-December 2023, out of which India imported 37 lakh tonnes. In the year 2024, 150 lakh tonnes of palm oil can be exported from there.