Malaysia has appealed to India to ease restrictions on exports of essential farm goods like rice and sugar, said Malaysia's Minister for Plantation and Commodities, Johari Abdul Ghani. India, holding the title of the world's largest rice and onion exporter and the second-largest sugar exporter, imposed export curbs on these commodities in 2023. The primary reason behind these curbs was to control domestic prices ahead of the general elections held in April-May of that year. Speaking at an industry conference in New Delhi, Ghani criticised the export curbs, stating they are detrimental to Malaysia. "If India opens up, it will be good for Malaysia," he said. Previously, India was a major source of sugar, rice, and onions for Malaysia. Notably, Malaysia itself is the second-largest exporter of palm oil to India, following Indonesia. According to government sources, New Delhi is likely to implement a reduction in the floor price for basmati rice exports. Additionally, it might replace the current 20 per cent export tax on parboiled rice with a fixed duty on overseas shipments. This move comes as rice inventories in India have reached record highs. Attribution: Reuters
