‘We are too small to take retaliatory action’: Malaysian PM on India’s palm oil boycott
“We are too small to take retaliatory action. We have to find ways and means to overcome that,” Mahathir said in Langkawi, a resort island off the western coast of Malaysia.
India, the world’s largest edible oil buyer, this month halted Malaysian palm oil imports after Mahathir’s comments on Kashmir and new citizenship bill.
India has been Malaysia’s top import market since 2014, according to industry data.
Last year, India bought 4.4 million tonnes of palm oil from Malaysia, accounting for 24% of all Malaysian palm oil exports.
The second biggest buyer of Malaysian palm oil, China, bought just 2.4 million tonnes last year, while the third largest buyer was Pakistan with 1.08 million tonnes, according to data from the Malaysian Palm Oil Council.
India is the seventh biggest market for all Malaysian exports, while Malaysia is India’s 17th largest export market.