Malaysian Plantation Industries and Commodities Minister Peter Chin Fah Kui said he planned to meet his Indian counterpart to seek clarification on India's policy on the issue, a media report said on Friday.
India imports palm oil mainly from Malaysia and Indonesia and soya oil from Argentina and Brazil. Last month, India raised customs duties on crude palm oil to 80 per cent from 65 per cent and on other palm oils including refined, bleached and deodorised palmolein and RBD palm oil to 90 per cent from 75 per cent.
India's duty structure on vegetable oils and fats had distorted the price difference between CPO and soya oil, Malaysian palm oil association president M R Chandran alleged.
"There is a premium of $100- 110 for a tonne of soya oil. The value of palm oil should be at the same level even with the levy," he was quoted as saying by the local media.
Another oil trader and managing director of LMC International ltd, James Fry, said India's import tariff policy would continue to haunt the market like a "ghost at a wedding," the New Straits Times newspaper reported.
