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In a strong reaction to Malaysia’s “unprovoked” criticism of the abrogation of Article 370 in Jammu & Kashmir, India’s apex oil trade body, Solvent Extractors’ Association of India (SEA) on Monday advised all its members to avoid imports from the South-East Asian nation.
In a short advisory to its members, including importers-crushers and processors, SEA stated: “Our Government has not taken kindly to the unprovoked pronouncements by the Malaysian Prime Minister and is contemplating some retaliatory action. It would be in the fitness of things, as a responsible Indian vegetable oil industry, that we avoid purchasing of palm oil from Malaysia till such time clarity on the way forward emerges from Indian Government.”
“In your own interest as well as a mark of solidarity with our Nation, we should avoid purchases from Malaysia for the time being. We trust you would heed our advice,” Atul Chaturvedi, President, SEA stated in the advisory.
India imports about 9 million tonnes of palm oil annually to meet its vegetable oil requirements. About one-third or roughly about 3-3.5 million tonnes comes from Malaysia, while the rest is imported from Indonesia.
Last month, at the United Nations, Malaysian Prime Minister Mahathir Mohamad, while referring to India’s move to abrogate Article 370 in Jammu & Kashmir, alleged that India “invaded and occupied” Jammu & Kashmir and suggested India “work with Pakistan to resolve this problem.”
This created a huge furore among the trade and political sections across the country. Soon after the comments, many traders had voluntarily suspended their November and December shipments from Malaysia.
An advisory from the apex trade body also points at the prevailing displeasure and anger against the comments. India’s dependence on palm oil imports from Malaysia had already come down after the Government imposed a 5 per cent safeguard duty on RBD Palmolein/Palm Oil of Malaysian origin last month.
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