Wilmar to expand India business
Wilmar International, the world's biggest palm-oil trader, aims to expand its India business to about half the size of its Chinese operations in the next 10 years, CEO Kuok Khoon Hong said. The expansion in India will include crushing oilseeds, and refining and bottling cooking oil, Kuok said today in an interview in Singapore, where Wilmar is based. The company supplies about half of China's cooking oil demand.
Palm oil futures climbed 37 per cent in the past 12 months in Malaysia as the global economy rebounded from the worst slump since the Great Depression.
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