Malaysia Urges India to Ease Farm Goods Export Curbs

Malaysia has made a formal request to India to ease its export curbs on essential farm goods, including rice and sugar. The plea was announced by Malaysia's Minister for Plantation and Commodities on Thursday.

India, the world's top exporter of rice and onions and the second largest exporter of sugar, implemented these export restrictions in 2023 to control domestic prices ahead of its general elections in April and May. Johari Abdul Ghani, speaking at an industry conference in New Delhi, emphasized that these curbs negatively impact Malaysia.

"If India opens up, it will be good for Malaysia," he said, highlighting India's significance as a key supplier of sugar, rice, and onions. Malaysia is notably the second-biggest exporter of palm oil to India, following Indonesia. The Indian government is expected to review the floor price for basmati rice exports and replace the 20% export tax on parboiled rice with a fixed duty, as domestic rice stocks hit a record high.

(With inputs from agencies.)