Commodities Live: Good News! Edible oil export duty will be reduced, Malaysia Commodity Minister announced

India is the largest country to buy palm oil from Malaysia. The statement of the Malaysia Commodity Minister to reduce the export duty on palm oil has come to the fore. Malaysia may reduce export duty on palm oil. Considering reducing the export duty from 8% to 4-6%. There is also a plan to reduce palm oil in biodiesel. At the same time, there has been a decline of 33% in the demand of cotton, the monthly consumption of cotton has come down from 29 lakh to 19 lakh bales.