Reports say Indonesia is set to ban the export of palm oil amid domestic shortage which may add to soaring food inflation worldwide.

Indonesia accounts for over half of the global palm oil supply. President Joko Widodo said his government would evaluate the implementation of the ban on edible oil in order to ensure cooking oil is available in the domestic market.&nbsp;

Cooking oil prices have shot up over 40 per cent this year in the country amid protests over the recent spike in prices.

<a href="https://www.wionews.com/world/us-says-india-not-violating-any-sanctions-by-importing-russian-oil-470364">Also Read:&nbsp;US says India not violating any sanctions by importing Russian oil</a>

President Widodo said the country will suspend the export of cooking oil and raw material from April 28.

"I will monitor and evaluate the implementation of this policy so availability of cooking oil in the domestic market becomes abundant and affordable," President Widodo told the nation.

Watch:&nbsp;Is the West trying to hide Russian oil imports?

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India is among the largest buyer of palm oil including China. Palm oil is widely used in various types of food products including in cosmetics, biscuits, detergents and chocolate.

Russia's invasion of Ukraine has already led to a supply shortage of sunflower oil even as the regular supply of soy and rapeseed oil has been hit due to drought in Canada, Argentina and Brazil.

Malaysia which is the second-largest producer of palm oil has been hit by a labour shortage due to the pandemic and is unlikely&nbsp;to fill the gap soon, reports claim&nbsp;

India reportedly imports nearly 4 million tonnes of palm oil from Indonesia. The country is already facing a fall in sunflower oil supply&nbsp;due to&nbsp;the Russia-Ukraine war. Reports say the price of crude palm oil in Mumbai has climbed over 50 per cent as compared to last year.

(With inputs from Agencies)

Reports say Indonesia is set to ban the export of palm oil amid domestic shortage which may add to soaring food inflation worldwide. Indonesia accounts for over half of the global palm oil supply.

Reports say Indonesia is set to ban the export of palm oil amid domestic shortage which may add to soaring food inflation worldwide. Indonesia accounts for over half of the global palm oil supply. President Joko Widodo said his government would evaluate the implementation of the ban on edible oil in order to ensure cooking oil is available in the domestic market. Cooking oil prices have shot up over 40 per cent this year in the country amid protests over the recent spike in prices. Also Read: US says India not violating any sanctions by importing Russian oil President Widodo said the country will suspend the export of cooking oil and raw material from April 28. "I will monitor and evaluate the implementation of this policy so availability of cooking oil in the domestic market becomes abundant and affordable," President Widodo told the nation. Watch: Is the West trying to hide Russian oil imports? India is among the largest buyer of palm oil including China. Palm oil is widely used in various types of food products including in cosmetics, biscuits, detergents and chocolate. Russia's invasion of Ukraine has already led to a supply shortage of sunflower oil even as the regular supply of soy and rapeseed oil has been hit due to drought in Canada, Argentina and Brazil. Malaysia which is the second-largest producer of palm oil has been hit by a labour shortage due to the pandemic and is unlikely to fill the gap soon, reports claim India reportedly imports nearly 4 million tonnes of palm oil from Indonesia. The country is already facing a fall in sunflower oil supply due to the Russia-Ukraine war. Reports say the price of crude palm oil in Mumbai has climbed over 50 per cent as compared to last year. (With inputs from Agencies)

Edible oil prices may rise further in India due to Indonesia's palm oil export ban

Pakistan Prime Minister <a href="https://www.wionews.com/.../imran-khan-leaves-for-malaysia-to-placate-pm- mahathir-for-skipping-key-islamic-summit-278403">Imran Khan</a> who is on a visit to Malaysia said his country "will do its best" to buy more palm oil from Malaysia after India pulled out of importing it last month.

Also read:&nbsp;<a href="https://www.wionews.com/business-economy/indias-january-palm-oil-imports-from-malaysia-could-hit-nine-year-low-report-276928">India's January palm oil imports from Malaysia could hit nine-year low: Report</a>

The Pakistan prime minister raked up the Kashmir issue during the meeting the Malaysian prime minister.

Also read:&nbsp;<a href="https://www.wionews.com/india-news/will-palm-oil-spate-start-a-trade-war-between-india-and-malaysia-278402">Will palm oil spate start a trade war between India and Malaysia?</a>

"We noticed India threatened <a href="https://www.wionews.com/.../pak-pm-imran-khan-skips-oic-meet-for- malaysia-trip-278340">Malaysia</a> for supporting the Kashmir cause, threatened to cut palm oil imports," PM Imran Khan said at a joint press conference with Malaysian Prime Minister Mahathir Mohamad.

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Prime Minister Mahathir Mohamad added that he had discussed the palm oil issue with the Pakistan prime minister.

India had put curbs on import of palm oil from Malaysia after PM Mahathir Mohamad's comment against on the CAA with the Malaysian prime minister criticising the new citizenship law and questioning its "necessity".

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The Pakistan prime minister who is in damage control mode for not attending the Kuala Lumpur summit due to apparent pressure from the Saudi Crown Prince said he would like to attend the next summit.

"I would like to attend the next KL summit. It will not affect Pakistan's relationship with other Muslim countries. The forum will help promote unity amongst the Muslim ummah," he said, adding,"earlier there was fear that it will divide but there's no fear any longer," the Pakistan prime minister said at the press briefing.

India's ministry of external affairs had earlier dismissed Mahathir's remarks calling it "factually inaccurate" and added that the Malaysian PM "has yet again remarked on a matter that is entirely internal to India" and asked Malaysia "to refrain from commenting on internal developments in India, especially without a right understanding of the facts".

"The Citizenship Amendment Act provides for citizenship through naturalization to be fast-tracked for non-citizens who are persecuted minorities from three countries. The Act does not impact in any manner on the status of any citizen of India, or deprive any Indian of any faith of her or his citizenship," the MEA said.

Pakistan Prime Minister Imran Khan who is on a visit to Malaysia said his country "will do its best" to buy more palm oil from Malaysia after India pulled out of importing it last month.

Pakistan Prime Minister Imran Khan who is on a visit to Malaysia said his country "will do its best" to buy more palm oil from Malaysia after India pulled out of importing it last month. Also read: India's January palm oil imports from Malaysia could hit nine-year low: Report The Pakistan prime minister raked up the Kashmir issue during the meeting the Malaysian prime minister. Also read: Will palm oil spate start a trade war between India and Malaysia? "We noticed India threatened Malaysia for supporting the Kashmir cause, threatened to cut palm oil imports," PM Imran Khan said at a joint press conference with Malaysian Prime Minister Mahathir Mohamad. × Prime Minister Mahathir Mohamad added that he had discussed the palm oil issue with the Pakistan prime minister. India had put curbs on import of palm oil from Malaysia after PM Mahathir Mohamad's comment against on the CAA with the Malaysian prime minister criticising the new citizenship law and questioning its "necessity". × The Pakistan prime minister who is in damage control mode for not attending the Kuala Lumpur summit due to apparent pressure from the Saudi Crown Prince said he would like to attend the next summit. "I would like to attend the next KL summit. It will not affect Pakistan's relationship with other Muslim countries. The forum will help promote unity amongst the Muslim ummah," he said, adding,"earlier there was fear that it will divide but there's no fear any longer," the Pakistan prime minister said at the press briefing. India's ministry of external affairs had earlier dismissed Mahathir's remarks calling it "factually inaccurate" and added that the Malaysian PM "has yet again remarked on a matter that is entirely internal to India" and asked Malaysia "to refrain from commenting on internal developments in India, especially without a right understanding of the facts". "The Citizenship Amendment Act provides for citizenship through naturalization to be fast-tracked for non-citizens who are persecuted minorities from three countries. The Act does not impact in any manner on the status of any citizen of India, or deprive any Indian of any faith of her or his citizenship," the MEA said.

Pakistan to help Malaysia in ‘palm oil-war’ with India, 'will do its best' to increase import

India's monthly<a href="https://www.wionews.com/business-economy/amid-the-palm-oil-import-row-malaysias-top-refiner-says-it-will-buy-more-indian-sugar-276186"> palm oil imports from Malaysia</a> is expected to hit the lowest level in January in nearly nine years, news agency Reuters reported citing traders and refiners.

The latest development comes as India curbed on palm oil imports from Malaysia after the southeast Asian country's prime minister the recent policies of India including abrogation of Article 370 and Citizenship Amendment Act.

According to the report, India is set to import less than 70,000 tonnes of palm oil from Malaysia in January which is the lowest since April 2011 and significantly lower than the 253,889 tonnes it imported in January 2019.

The report also added that the imports could be negligible at less than 10,000 tonnes in February as almost every Indian buyer has switched to Indonesia.

In 2019, India imported 4.4 million tonnes of palm oil from Malaysia, with average monthly imports of 367,459 tonnes, Malaysian Palm Oil Board (MPOB) data showed.

After Malaysia, Indonesia is the world's biggest producer of palm oil.

Palm oil accounts for nearly two-thirds of India's total edible oil imports. India buys more than 9 million tonnes of palm oil annually, mainly from Indonesia and Malaysia.

In the Kuala Lumpur summit that took place in December 2019, the Malaysian prime minister had criticised the new citizenship act and government's move on Jammu and Kashmir.

New Delhi reacted to Mohamad's comments with the Ministry of External Affairs issuing a statement on the same.&nbsp;

The MEA called Mohamad's remarks as "factually inaccurate" and said that the Malaysian Prime Minister, "has yet again remarked on a matter that is entirely internal to India," the statement read.

Now, the Indian palm oil importers have effectively stopped all purchases from Malaysia following a diplomatic spat.

(With inputs from Reuters)

 
&nbsp;

India's monthly palm oil imports from Malaysia is expected to hit the lowest level in January in nearly nine years, news agency Reuters reported citing traders and refiners.

India's monthly palm oil imports from Malaysia is expected to hit the lowest level in January in nearly nine years, news agency Reuters reported citing traders and refiners. The latest development comes as India curbed on palm oil imports from Malaysia after the southeast Asian country's prime minister the recent policies of India including abrogation of Article 370 and Citizenship Amendment Act. According to the report, India is set to import less than 70,000 tonnes of palm oil from Malaysia in January which is the lowest since April 2011 and significantly lower than the 253,889 tonnes it imported in January 2019. The report also added that the imports could be negligible at less than 10,000 tonnes in February as almost every Indian buyer has switched to Indonesia. In 2019, India imported 4.4 million tonnes of palm oil from Malaysia, with average monthly imports of 367,459 tonnes, Malaysian Palm Oil Board (MPOB) data showed. After Malaysia, Indonesia is the world's biggest producer of palm oil. Palm oil accounts for nearly two-thirds of India's total edible oil imports. India buys more than 9 million tonnes of palm oil annually, mainly from Indonesia and Malaysia. In the Kuala Lumpur summit that took place in December 2019, the Malaysian prime minister had criticised the new citizenship act and government's move on Jammu and Kashmir. New Delhi reacted to Mohamad's comments with the Ministry of External Affairs issuing a statement on the same. The MEA called Mohamad's remarks as "factually inaccurate" and said that the Malaysian Prime Minister, "has yet again remarked on a matter that is entirely internal to India," the statement read. Now, the Indian palm oil importers have effectively stopped all purchases from Malaysia following a diplomatic spat. (With inputs from Reuters)

India's January palm oil imports from Malaysia could hit nine-year low: Report

Recently India taught Malaysia a lesson for commenting on the Citizenship law. The government changed rules to bar the import of palm oil from Malaysia. Now, reports show that Turkey is also on India's radar. Is India weaponising trade? WION's Palki Sharma explains.

Gravitas: First Malaysia, Now Turkey: Is Indian Government Weaponising Trade?

India, Malaysia ties&nbsp;are likely to take a hit with New Delhi deciding to put curbs on palm oil imports from Malaysia.

The move follows Malaysian Prime Minister Mahathir bin Mohamad's comments on the Citizenship Amendment Act.&nbsp;

India will now be urging Indonesia for more oil imports, a move that is likely to spark a price war between Kuala Lumpur and Jakarta.&nbsp;

India's curb on palm oil imports will also result in a loss of market share for Malaysia.&nbsp;

Last month, as per reports, the Malaysian PM during a summit in Kuala Lumpur made comments on the CAA, criticising the new citizenship law and questioning its "necessity".&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/india-news/caa-fallout-member-of-malaysian-central-government-coalition-says-pm-mahathir-has-overreacted-269450">CAA fallout: Member of Malaysian central government coalition says PM Mahathir has overreacted</a>

New Delhi reacted to Mohamed's comments with the Ministry of External Affairs issuing a statement on the same.&nbsp;

The MEA called Mohamad's remarks as "factually inaccurate" and said that the Malaysian Prime Minister, "has yet again remarked on a matter that is entirely internal to India," the statement read.

The statement further added that the new law is to provide citizenship to the "persecuted minorities from three countries" and that it does not impact any Indian citizen.&nbsp;

Read more:&nbsp;<a href="https://www.wionews.com/india-news/factually-inaccurate-india-slams-malaysian-pms-remarks-on-caa-269407">Factually inaccurate: India slams Malaysian PM's remarks on CAA&nbsp;</a>

"The Citizenship Amendment Act provides for citizenship through naturalization to be fast-tracked for non-citizens who are persecuted minorities from three countries. The Act does not impact in any manner on the status of any citizen of India, or deprive any Indian of any faith of her or his citizenship," the MEA release read.

New Delhi also asked Malaysia "to refrain from commenting on internal developments in India, especially without a right understanding of the facts".

India, Malaysia ties are likely to take a hit with New Delhi deciding to put curbs on palm oil imports from Malaysia. The move follows Malaysian Prime Minister Mahathir bin Mohamad's comments on the Citizenship Amendment Act.

India, Malaysia ties are likely to take a hit with New Delhi deciding to put curbs on palm oil imports from Malaysia. The move follows Malaysian Prime Minister Mahathir bin Mohamad's comments on the Citizenship Amendment Act. India will now be urging Indonesia for more oil imports, a move that is likely to spark a price war between Kuala Lumpur and Jakarta. India's curb on palm oil imports will also result in a loss of market share for Malaysia. Last month, as per reports, the Malaysian PM during a summit in Kuala Lumpur made comments on the CAA, criticising the new citizenship law and questioning its "necessity". Also read: CAA fallout: Member of Malaysian central government coalition says PM Mahathir has overreacted New Delhi reacted to Mohamed's comments with the Ministry of External Affairs issuing a statement on the same. The MEA called Mohamad's remarks as "factually inaccurate" and said that the Malaysian Prime Minister, "has yet again remarked on a matter that is entirely internal to India," the statement read. The statement further added that the new law is to provide citizenship to the "persecuted minorities from three countries" and that it does not impact any Indian citizen. Read more: Factually inaccurate: India slams Malaysian PM's remarks on CAA "The Citizenship Amendment Act provides for citizenship through naturalization to be fast-tracked for non-citizens who are persecuted minorities from three countries. The Act does not impact in any manner on the status of any citizen of India, or deprive any Indian of any faith of her or his citizenship," the MEA release read. New Delhi also asked Malaysia "to refrain from commenting on internal developments in India, especially without a right understanding of the facts".

India puts curbs on palm oil imports from Malaysia following PM Mahathir Mohamad's CAA remark

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Edible oil prices may rise further in India due to Indonesia's palm oil export ban

Pakistan to help Malaysia in ‘palm oil-war’ with India, 'will do its best' to increase import

India's January palm oil imports from Malaysia could hit nine-year low: Report

Gravitas: First Malaysia, Now Turkey: Is Indian Government Weaponising Trade?

India puts curbs on palm oil imports from Malaysia following PM Mahathir Mohamad's CAA remark