Stearic Acid Price to Rise Due to Cut in Palm Oil purchase from Malaysia
- 18-Oct-2019 11:00 AM
- Journalist: Patrick Knight
Indian traders have decided to cut purchase of palm oil from Malaysia after a quirk comment by the Malaysian Prime Minister Mahathir Bin Mohamad regarding Indias Kashmir Policy.
This political statement has created a cold strife between the two nations and Indian importers are likely to shift their focus on alternate sources. The diplomatic dispute to impact the trade flows between the two nations and therefore the stearic acid prices is anticipated to rise over the week.
Bipul Chatterjee, head of Economics and Environment mentioned that India would increase its palm oil imports from Indonesia and edible oil supplies from Ukraine and that the domestic demand would not be impacted.