'We are very against India, cannot take revenge': Malaysian Prime Minister

(PTI) Lankavi, Ta. January 20, 2020, Monday

Malaysian Prime Minister Mahathir Mohamed clarified that his country would not take any retaliatory action against India's decision to boycott palm oil imports.

According to Mahathir Mohamed, Malaysia could not withstand such a huge economic crisis like India and therefore there was no question of a response. At the same time, he admitted that he had to shorten his response.

Malaysia, which has boycotted palm oil imports by India, will now have to find other ways to counter such a huge market loss. It is worth mentioning that India is the largest importer of edible oil in the world and Malaysia exports India the largest amount of edible oil.

The Prime Minister of Malaysia criticized the Indian government for eliminating Article 370 from Jammu and Kashmir and the Citizenship Investigation Act, in response to which India had stopped importing Malaysian palm oil this month.

Malaysia is the second largest producer of palm oil in the world and these circumstances have led to the boycott of its biggest importer. India has been the biggest market for Malaysian palm oil for the last five years and Malaysia has to find a new market which is being boycotted by India.

However, it is almost impossible to find a single market for such a large quantity of oil, and this is why last week the benchmark Malaysian palm oil prices in the futures market fell by 10 percent, the highest weekly low (lowest) in 11 years. Malaysia has surrendered to the Islamic cleric Zakir Naik and has also rejected India's demand for extradition so India is offended.