JAKARTA: India is likely to buy more Malaysian palm oil after export levies imposed by top producer Indonesia hit record highs in the past year, BV Mehta, executive director of India's Solvent Extractors' Association, said on Thursday .
"Indonesia's share of palm oil imports by India earlier was nearly 70-75 per cent," Mehta told the annual Indonesian Palm Oil Conference. Indonesia started taxing crude palm oil exports again after three years of absence in February last year, while export levies for the edible oil reached a record high of US$255 per tonne in February earlier this year.
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