The Palm Scribe

India open to negotiation

Bisnis Indonesia, 25 October 2018

India is opening negotiation opportunity to reduce import duty of crude palm oil (CPO) products from Indonesia. India demanded Indonesia buy India’s products as a compensation, Trade Minister Enggartiasto Lukita said on Wednesday (24 October). Indonesian Palm Oil Producers Association (Gapki) Deputy Chair Togar Sitanggang praised India’s policy, citing the country’s importance as Indonesia’s CPO market. According to Gapki’s data, India imported 823,000 tonnes of CPO and its derivatives from Indonesia in August, a 26% increase from the previous month. India is imposing 44% and 54% import duty on CPO and its derivatives, respectively.

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