Ministry Expects To Improve Palm Oil Exports To India

KUALA LUMPUR, May 26 (Bernama)

Ministry Expects To Improve Palm Oil Exports To India

The Plantation Industries and Commodities Ministry expects the country's palm oil exports to India to improve if the Indian government reduces its import duties on refined palm oil.Its minister Datuk Peter Chin Fah Kui said currently crude palm oil export to India was not taxed but there was a 7.5 percent import tariff on refined palm oil.

"I am meeting the India's Agriculture Minister and our discussions will be mostly on how we can improve trade volume between India and Malaysia especially palm oil," he told reporters after visiting jatropha trial plot at the Rubber Research Institute of Malaysia here Monday.

He said the ministry would be promoting palm oil by leading a 50-member delegation to Mumbai on May 29 and 30 to participate in the Malaysia-India Palm Oil Trade Seminar.He said in the late 1990s until 2001, India was Malaysia's top buyer but when the import duties were imposed, palm oil shipment to India began to decrease.

"Before the Indian government reduces its import tariff on palm oil in March and April to combat rising inflation, import duties on crude palm oil and refined palm oil were 45 percent and 52.5 percent respectively in February," he said.-- BERNAMA