New Delhi: According to the media reports, so far sugar export from India to Malaysia has been more this year as compared to previous years. To resolve the on-going deadlock over palm oil, Malaysia aims to buy more sugar from India.
Following Malaysia’s criticism of India over Kashmir issue, India halted the Malaysian palm oil imports. And it is believed to resolve the on-going deadlock over palm oil, Malaysia has shown interest in buying sugar. This could help India to reduce the sugar stocks piled in domestic market.
Indis is sitting with sugar surplus and export to Malaysia will aid in reducing the sugar stockpile. Also, to reduce the sugar surplus, the Indian government had announced financial assistance on 60 LMT sugar export for 2019-20 sugar season. The policy involves financial aid of Rs 10,448 per metric tonne (mt) to sugar mills. Sugar mills across India have already started gearing up for exports as it would rope in financial assistance from the Government and ease the financial burden on them.
India had last month termed as “factually inaccurate” remarks of Malaysian Prime Minister Mahathir Mohamad on Citizenship Amendment Act (CAA), saying the matter was internal to India” and does not impact the status of any citizen.
To Listen to this News click on the play button.
