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Avoid oil imports from Malaysia: Trade body
Why is it in the news ?
- India’s apex oil trade body Solvent Extractors’ Association of India (SEA) advised all its members to avoid imports from the Malaysia amid prevailing tensions between the two countries.
- Malaysia had criticised India’s move to abrogate Article 370 in Jammu and Kashmir.
More in the news
- Palm oil imports:
(1) India’s total annual palm oil import is approximately 9 million tonne.
(2) Around 3 to 3.5 million tonne is imported from Malaysia and rest from Indonesia.
(3) In the first nine months of 2019, India was the biggest buyer of Malaysian palm oil, taking 3.9 million tonnes.
- Palm oil accounts for almost two-thirds of the country’s total edible oil imports.
Source
The Hindu.