MSM Malaysia Holdings Berhad will buy 130,000 tonnes of raw sugar from India worth RM200 million (US$49.20 million) in the first quarter, the company told Reuters. The company bought around 88,000 tonnes of raw sugar from India in 2019. India, the world’s largest edible oil buyer, this month effectively halted Malaysian palm oil imports apparently in retaliation to Malaysian Prime Minister Mahathir Mohamad’s comments criticising New Delhi over its policy on Kashmir. India has been the biggest buyer of Malaysian palm oil for five years. Malaysia imported 1.95 million tonnes of raw sugar in 2019, according to data from the International Sugar Organization on Refinitiv Eikon.

Source: New Strait Times January 23, 2020 05:03 UTC