Kuala Lumpur: Malaysian Prime Minister, Mahathir Mohamad has changed his stance after facing a lash of oil boycott from India.
In January this year, Mahathir spoke against the Citizenship Amendment Act (CAA) and accused India of invading and occupying Kashmir. In retaliation, India stopped purchasing refined palm oil from Malaysia, which is the biggest producer and exporter of edible oils.
Anwar Ibrahim, who would be Mahathir’s successor this year said, he and Mahathir Mohammad had discussed this issue and agreed that it is important to maintain good economic and trade relations with countries like India and china irrespective of each other’s policies.
“I’m sure the leaders in India will take cognisance of the fact that Mahathir did say it, but then he has now refrained from repeating it in the sayings or tone.” Said Anwar.
India is the world’s biggest buyer of edible oils, asked its importers to stop buying palm oil from Malaysia. As a result Malaysian palm oil export to India may have plummeted to 80% compared to last year. According to Refinitiv (Reuters Financial & Risk).