Malaysian agriculture giant FGV Holdings Berhad announces it will increase its sugar imports from India from 88,000 tonnes to 133,000 in an attempt to resolve the palm oil trade dispute between the two nations.
Indonesia agrees to increase its imports of buffalo meat, automobiles, and sugar from India in exchange for an increase in imports of Indonesian-produced palm oil, amid a growing trade dispute between India and Malaysia.
Indian trade minister Piyush Goyal states when he attends the World Economic Forum next week, he will not meet with his Malaysian counterpart Darell Leiking to discuss India's tightening of palm oil imports from his country. India tightened imports from Malaysia last week in response to Prime Minister Mahathir Mohamad's criticisms of the revocation of Jammu and Kashmir's special status and the Citizenship Amendment Act.
The European Union, Australia, India, Malaysia, Singapore, and Turkey ground all Boeing 737 MAX 8 jets. This means 40% of the global fleet is now grounded, with Indonesia, China and several airlines grounding their aircraft yesterday. Boeing states they will issue a software update for the model within weeks.