India's trade minister will not meet with his Malaysian counterpart in Davo...
KUALA LUMPUR/NEW DELHI - India’s trade minister will not meet with his Malaysian counterpart in Davos next week because of his tight schedule, an Indian trade ministry official said on Sunday, as a spat simmers between the top buyer of palm oil and its biggest supplier.
Malaysia, a Muslim-majority nation, is the second biggest producer and exporter of palm oil and India’s restrictions on the refined variety of the commodity imposed last week have been seen as a retaliation for Mahathir’s criticism of New Delhi. “I can tell you fair and square there’s no meeting between the Malaysian minister and the Indian trade minister at Davos,” he said, asking not to be named as he was not a government spokesman.
The row dragged benchmark Malaysian palm futures to their biggest weekly decline in more than 11 years on Friday.
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