Palm oil trade with India looking good again

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India agreed to buy 200,000 tonnes of palm oil from Malaysia last week.PETALING JAYA: A palm oil analyst foresees prospects for Malaysian palm oil exports to India continuing to improve following reports that importers in the South Asian country last week contracted 200,000 tonnes of the commodity. Singapore-based Sathia Varqa told FMT Malaysian producers would benefit greatly considering that the price of crude palm oil was now hitting RM2,300 a tonne. He attributed the resumed demand from India to the change of government in Malaysia three months ago. Indian purchases were affected after former prime minister Dr Mahathir Mohamad criticised New Delhi over several issues, including its policy on Kashmir and its controversial citizenship law. Sathia said the crude palm oil price could reach RM2,400 a tonne if India and China were to sustain their demand. “This looks likely to happen…