Commodities & Energy

Reuters exclusively reports India resumes buying Malaysian palm oil

Reuters exclusively reports India resumes buying Malaysian palm oil

Reuters was first to report Indian refiners have resumed buying Malaysian palm oil after a near one-month suspension as Kuala Lumpur began offering a $5 a tonne discount over supplies from rival Indonesia. India, the biggest buyer of Malaysian palm oil this year, stopped buying palm after Malaysia’s prime minister criticized India over its policy toward Kashmir. The resumption in purchases could support Malaysian palm oil prices, which are near their highest in two years.