RAM also said the increase in Indian import duties on rival soybean oil in June 2018 was also expected to reverse the downtrend in palm oil exports for Malaysia and Indonesia.
KUALA LUMPUR: There is a good chance that palm oil may regain some market share it lost previously in India after the government announced a reduction in import duties on crude palm oil and refined palm oil, effective since Jan 1.
“As long as the Indian government keeps import duties of other vegetable oils unchanged, it would help Malaysia increase its exports, lower stockpile and lift crude palm oil prices,” said Maybank Kim Eng in a research note yesterday.
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