Oil palm planters to benefit from easing of India, Indonesia rules

Singapore

RECENT moves to ease the trade of crude palm oil (CPO) by India and Indonesia - which are among the largest importers and exporters, respectively, of the vegetable oil - could have positive but uneven spillover effects on the whole sector, according to analysts.

On June 30, India said it would amend its import classification for refined palm oil to "free" from "restricted" for six months. India will also cut the base import tax on CPO to 10 per cent from 15 per cent for three months.