Najib: Palm oil exports to India dropped by 76%

Najib: Palm oil exports to India dropped by 76%

PUCHONG: Former prime minister Datuk Seri Najib Tun Razak today criticised Primary Industries Minister Teresa Kok for trivialising India’s unofficial boycott on Malaysian palm oil produce.

In a Facebook post today, Najib pointed out that Malaysia’s palm oil exports to India dropped sharply by 76%, or 400,000 tonnes within three months, from Aug to Nov.

“In the past, Kok dismissed the boycott threats by a business association based in India on our palm oil, produce saying it was not an official call by the Indian government.

“Even at that time, I lashed out at the minister saying that the business association’s call was India’s way of boycotting our palm oil in subtle way,” he said.

Najib added that it was the same method China uses when it decides to slap economic sanctions on nations unfavourable to them.

Two months ago, Prime Minister Tun Dr Mahathir Mohamad courted controversy when he accused India of ‘invading and occupying Kashmir’ at the United Nations General Assembly.

Mahathir’s statement courted heavy criticism from India, with the Solvent Extractor’s Association of India calling for their government to boycott Malaysia’s palm oil.

Earlier today, Indian High Commissioner to Malaysia Shri Mridul Kumar dismissed claims that India was boycotting Malaysia’s palm oil.

Najib, however, was not impressed by Mridul and Kok’s statement, while producing statistics to show the drop in palm oil exports to India.

“If the palm oil price is at RM2,500 a tonne, so a drop of 400,000 tonnes is equivalent to a loss worth RM1 billon a month.

“If it goes on for 12 months, it means we will lose RM12 billion. And you ask us not to worry, Kok?’ asked the Pekan MP.

India is Malaysia’s number one palm oil produce importer to date.

By G Vinod