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The import duty cut has been done within the framework of ASEAN agreement and the India-Malaysia Comprehensive Economic Cooperation Agreement (IMCECA), according to Finance Ministry notification

MUMBAI: India has cut import taxes on crude and refined palm oil from Southeast Asian (Asean) countries after a request from suppliers, a government notification said on Tuesday.

The government on Wednesday slashed import duty on refined palmolein from 50 per cent to 45 per cent, while that on crude palm oil (CPO) from 40 per cent to 37.5 per cent with immediate effect, a move that the industry opposed saying it will hurt domestic refiners.

China’s iron ore futures were the best performing commodity in 2019, more than doubling in value while natural gas ranked as the biggest loser, dropping by more than a quarter

The government's move to reduce import duty on refined and crude palm oil ,will hurt domestic refining industry, said Solvent Extractors’ Association (SEA), an apex trade body of the vegetable oil Industry.

Malaysia's palm oil industry has become an unexpected casualty of a row with India over disputed Kashmir.

The Governor of the Central Bank of Nigeria, Godwin Emefiele’s call the other day on state governors to assist in stopping the outflow of about $500 million annually for the importation of palm oil should not be ignored by relevant stakeholders.

In the EU, biodiesel production has increased for another year, accounting for more than one third of global production, according to a December release by Germany’s UFOP.

PETALING JAYA: The Malaysian economy is set to recover in the second half of 2020, with no major economic crisis on the horizon, analysts say.

PETALING JAYA: Crude palm oil (CPO) prices ended the year 2019 on a high note, with third-month CPO futures closing at RM3,046 per tonne.

RESEARCH houses expect earnings boost in the coming quarters for the palm oil industry as futures closed above RM3,000 per tonne for the first time in three years recently.

NEW DELHI (Dec 30): Palm oil advanced to trade near its highest in almost three years, with firmer petroleum and soyoil underpinning the market. The world’s most-consumed cooking oil remained on track for its best year in a decade.