Pakistan’s Prime Minister Imran Khan announced in a joint news conference that the country will do its best to buy more Malaysian palm oil. This move comes after top buyer India had put curbs on such imports last month after a diplomatic row with the Southeast Asian nation, the world’s second-biggest producer and exporter of the edible oil.
Crux of the Matter
The Backstory India had put general restrictions on refined palm oil imports and informally asked traders specifically to stop buying from Malaysia in retaliation to their Prime Minister, Mahathir bin Mohamad’s accusation that recent Indian policies discriminate against Muslims. The controversial statement came after India passed a rule to revoke Kashmir’s autonomy.
No Love Lost between Peacock – Markhor India is a Hindu-majority country while Malaysia and Pakistan are mainly Muslim. Neighbours India and Pakistan have been mostly hostile towards each other since the partition of British India in 1947, and have fought two of their three wars for territorial claims in Kashmir.
Strong Ties Pakistan bought 1.08 million tonnes of palm oil from Malaysia in 2019, while India bought 4.4 million tonnes, according to the Malaysian Palm Oil Council. Mr. Khan in a state visit said that he discussed with Mr. Mahathir to buy more palm oil. Furthermore, Malaysia and Pakistan would work on a joint media project to broadcast a positive image of Islam, fight Islamophobia and develop content for young Muslims.
Experts doubtful about Imran Khan’s pledge to buy more of the commodity to offset Malaysia's loss in the Indian market. #FMTNews #ImranKhan #PalmOil https://t.co/4PKtfAOY2g — Free Malaysia Today (@fmtoday) February 6, 2020
Curiopedia
Palm oil production is vital for the economy of Malaysia, which is the world’s second-largest producer of the commodity after Indonesia. The Malaysian Palm Oil Board (MPOB) is a government agency responsible for the promotion and development of the palm oil sector in the country. In the early 1960s, palm oil cultivation increased significantly under the government diversification program to reduce Malaysia’s dependency on rubber and tin. The country’s palm oil industry produces about 90 million tonnes of lignocellulosic biomass, including empty fruit bunches, oil palm trunks, and oil palm fronds, as well as palm oil mill effluent (POME). In 2010, in response to concerns about the social and environmental impact of palm oil, the Malaysian Government pledged to limit palm oil plantation expansion by retaining at least half of the nation’s land as forest cover. More Info
Curated Coverage
Commentaires