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Saturday, November 16, 2024

Home Top News Malaysia to buy more Indian sugar to resolve palm oil spat

Malaysia to buy more Indian sugar to resolve palm oil spat

by admin
January 24, 2020
in Top News

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Kuala Lumpur

MSM Malaysia Holdings Berhad will buy 130,000 tonnes of raw sugar from India worth 200 million ringgit ($49.20 million) in the first quarter, the company told Reuters. It bought around 88,000 tonnes of raw sugar from India in 2019.
MSM is the sugar refining arm of the world’s largest palm oil producer, FGV Holdings, which is a unit of Malaysian state-owned Federal Land Development Authority or Felda. The company did not cite the palm oil dispute as a reason for the increase in purchases.—Reuters