Palm oil export tax may be cut by Indonesia to offset India tariff rise


NEW DELHI/JAKARTA: Indonesia may consider cutting the export tax on refined palm oil to offset an increase in import tariffs by leading buyer India, officials and traders said on Friday.

India on Thursday raised the import duty on refined edible oils including palm oil to 10 percent from 7.5 percent to protect local oilseed growers and refiners.

Get 20% OFF The Star Digital Access

Monthly Plan

RM 13.90/month

RM 11.12/month

Billed as RM 11.12 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 9.87/month

Billed as RM 118.40 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Business News

Ringgit opens higher against major, Asean currencies ahead of 2Q GDP announcement
FBM KLCI sinks as commodity plays retreat on lower oil prices
Trading ideas: Gamuda, MN, TSR, ETA, Chuan Huat, Tomei, Guocoland, Orkim, Maxis, UOA, AirAsia, LPI, Keyfield, Pharmaniaga
Fed's Goolsbee says latest inflation data is better
IOI Corp set for multi-year production recovery, better earnings
Rising costs dent MR DIY earnings prospects
Mah Sing urges Budget 2027 support for homeownership
AirAsia rides fluid market with tactical adjustments
MN Holdings bags RM71mil TNB contract
Maxis taps CEO Goh Seow Eng as executive director

Others Also Read