Cut in India CPO duties seen benefiting Malaysia

Positive sign: CPO prices saw a small rebound in December after a rather prolonged downtrend since the beginning of 2018.

PETALING JAYA: India has unexpectedly cut import duties on crude palm oil (CPO) from some countries, including Malaysia and Indonesia, to 40% from 44% prior to this.

Bloomberg reported that the notification by India’s Central Board of Indirect Taxes and Customs had also stated that the import duty on other palm oils from Malaysia will be reduced to 45% from 54%.