PALM NEWS MALAYSIAN PALM OIL BOARD Friday, 20 Sep 2024

Total Views: 235
MARKET DEVELOPMENT
Malaysia For Lower Palm Oil Tariff
calendar14-10-2002 | linkNULL | Share This Post:

Kuala Lumpur, October 8 : Malaysia will urge India to reduce tariff oncrude palm oil (CPO) and refined oil import, minister of primaryindustries Lim Keng Yaik said on Tuesday.Mr Yaik, who will visit India in February, told reporters that the issueshe would discuss with the Indian government, include reduction in importduty on palm oil, parity in vegetable oil duty structure and reduction indifferential duty.The use of diversified palm oil-based products and possibility of Malaysiasupplying the knowledge and technology for oleochemical plants would alsobe discussed, he said.Saying that the tariff on palm oil was very high, he said India applies ahigh differential duty on crude oil and refined oil too.“We would also like to create awareness and promote non-conventionaloptions and diversified usage of oil palm such as production ofoleochemicals, biomass, biofuel and the use of oleochemicals as asubstitute to petrochemicals in various products, he said.Even in edible oil industry palm oil can be used in different variationslike, specialty fat and cooking fat. “We are also working to get the rightformula to use oil palm to prepare milk substitute as non-dairy milk,” MrYaik said.Saying that use of oleaochemical as a substitute of petrochemicals is notonly more effective but also environment friendly, Mr Yaik said.— PTI