Malaysia looking at barter
deal with India on wheat, rice
The Malaysian Minister of
Plantation Industries and Commodities, Mr Bernard Dompok, has hinted that his
country was looking at options of importing wheat and rice from India in lieu of
palm oil under a barter deal, which he said has immense potential.
Availing 55 per cent of its
vegetable oil requirements through imports, India procured 1.82 million tonnes
of palm oil products valued at $ 1.96 billion in 2011 from Malaysia, the country’s
second largest supplier of palm oil. The imports are mostly in the form of
refined, bleached and deodorised (RBD) palmolein.
Malaysia derives 30 per cent of its annual rice
consumption of 2.5 million tonnes through imports from other countries. Besides,
it also imports wheat in order to meet the demand of 1.5 million tonnes (mt),
given the absence of domestic output.
Source : Exim
News Service - New Delhi, June 21