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Commodities

India's tax move to hurt Malaysia's palm oil market share

Refined palm oil shipments to shrink, crude palm imports to remain steady

KUALA LUMPUR (Nikkei Markets) -- Malaysia expects India's latest move to raise import tax on refined palm oil to erode its market share although exports of crude palm oil to the South Asian nation would likely remain steady.

"We still have the opportunity to sell crude palm oil because crude palm oil is duty-free and it will continue to be imported by the Indian refiners," said Kalyana Sundram, chief executive of the Malaysian Palm Oil Council, a state-run agency mandated to promote the edible oil.

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