Bisnis Indonesia, 31 December 2018
The price of crude palm oil (CPO) has rebounded following India’s plan to cut its import duty starting from January 1. The benchmark CPO contract at the Malaysia Derivatives Exchange (MDE) rose 15 points (0.71%) to 2,120 ringgit per metric ton on Friday (December 28).
Previously, India announced that the country would reduce its import duty on Malaysia’s CPO and its derivatives to 40% and 45%, respectively. In addition, India would also reduce its import duty on Indonesia’s CPO and its derivatives to 40% and 50%, respectively.