INDIA IN COUNTERTRADE DEAL FOR MALAYSIAN PALM OIL India is to partially cover the cost of its Malaysian palm oil imports through a countertrade deal involving the construction of two bridges valued at 20 mln dlrs, an Indian trade source told Reuters. He said Malaysia agreed to the oil-for-bridges deal in October after India said it could no longer buy some 700,000 tonnes of palm oil a year because of its trade deficit. Malaysia has also agreed to barter palm oil for 30 mln dlrs of hydroelectric equipment and is interested in countertrading for Indian iron ore, wheat and other goods and services, he said.