About 40% of India’s annual demand for edible oils is satisfied by imported palm oil. India is the world’s largest importer of palm oil from its largest producers, Indonesia and Malaysia.
Reacting to Mahathir’s comments, the Solvent Extractors Association of India (SEAI), a Mumbai-headquartered lobby of some of India’s biggest edible oil companies, issued an unprecedented advisory to its members to stop importing oil from Malaysia. The SEAI is currently headed by Atul Chaturvedi, former CEO and current board member of Adani Wilmar, which, is a 50:50 venture of the Adani Group led by India’s second-richest man Gautam Adani, and Wilmar International, the world’s biggest palm oil company.
Mahathir’s remarks came at a time when the SEAI was already engaged in a trade dispute with Malaysia. The new restrictive import policy will benefit all oil refining companies, including major players like Adani Wilmar, Patanjali Ayurved-owned Ruchi Soya, and Emami.
— source newsclick.in | 28 Jan 2020