Better ties with India needed as palm oil sector prepares for worst

Estimate Reading Time: 2 minutes

PETALING JAYA: A palm oil analyst has urged Putrajaya to go all out to repair diplomatic ties with New Delhi and work out a deal to bypass Indian restrictions on the import of refined, bleached and deodorised (RBD) palm oil.

-Advertisement-

Singapore-based Sathia Varqa said this would be the “lowest hanging fruit” to help boost demand for palm oil which has been badly affected by Covid-19 and lockdowns in countries around the world.

-Advertisement-

This, he said, had been further complicated by the drop in crude oil prices which made biodiesel financially not viable.

“Diesel is now trading at US$191.50 per tonne while crude palm oil is trading at US$465 per tonne. This is more than double the price of diesel.

Share this Article
  • 3
  •  
  •  
  •  
  •  
  •  
  •  
    3
    Shares