Indian curbs on palm oil imports to hit global pri
7/17/04 - India and China are expected to cut down on imports of crudepalm oil (CPO) from major producers such as Indonesia and Malaysia in thenext few months, chairman of the Indonesian Palm Oil Association, DeromBangun, said.
India, which imported 2m tonnes of CPO from Indonesia in ’03 is expectedto reduce its import by 20-25%, Derom said at Medan in North Sumatra onWednesday. Likewise China would cut down on its imports from Indonesia.The downturns in China’s and India’s CPO imports amid increasing worldproduction would depress the commodity’s price in international markets,Derom said.
Derom said India had imposed a 60% duty on CPO imports containing aminimum of 500 parts per million (ppm) of beta carotene, which made itdifficult for crude palm oil with lower levels of beta carotene to competein the Indian market.
According to Derom, the reduction in India’s and China’s CPO imports hashad a negative impact on the commodity's price in producing areas inIndonesia.
However, I think India's and China's policies to reduce their CPO importswill not have a significant effect on Indonesia's CPO exports in ’04. Butwe have to work hard to find new markets,†Derom said.
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