The Palm Scribe

Indonesia to trade palm oil for India’s sugar

Kompas, 23 February 2019

Indonesia and India plan to remove tariff and non-tariff barriers to improve bilateral trade and accelerate economic growth in both countries. Trade Minister Enggartiasto Lukita after a meeting with India’s Commerce and Industry Minister-cum-Civil Aviation Minister Suresh Prabhu during the 4th India-ASEAN Expo and Summit in New Delhi, India, on Friday (February 22) said that Indonesia has asked India to lower the import duty tariff imposed on Indonesia’s crude palm oil to 45% from the currently 50%. That way, Indonesia will get the same treatment as Malaysia, for whom India had cut its CPO import duty to 45% since January. Meanwhile, India asked Indonesia to reduce its import duty tax on India’s sugar to 5% from the current 10%.

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