Indonesia's exports of Crude Palm Oil and its derivatives rose 24 percent to 2.98 million tons in August 2017 from 2.40 million tons in the preceding month, according to latest data from the Indonesian Palm Oil Producers Association (Gapki).
India is showing growing demand for Indonesian palm oil, even though the world's largest Palm Oil importer implemented higher import duties. Earlier this year, India doubled import duties on CPO from 7.5% to 15% in an effort to protect its domestic palm oil farmers. India also raised the levy on refined, bleached and deodorized (RBD) palm olein by 10% to 25%.
Palm oil shipments to China touched a record this year as exports to the world's second-largest economy rose 169 percent from 167,280 tons in a month earlier to 449,200 in August 2017.
Shipments to China rise because the nation is safeguarding sufficient Palm Oil reserves at home, Gapki said.
India is showing growing demand for Indonesian palm oil, even though the world's largest Palm Oil importer implemented higher import duties. Earlier this year, India doubled import duties on CPO from 7.5% to 15% in an effort to protect its domestic palm oil farmers. India also raised the levy on refined, bleached and deodorized (RBD) palm olein by 10% to 25%.
Palm oil shipments to China touched a record this year as exports to the world's second-largest economy rose 169 percent from 167,280 tons in a month earlier to 449,200 in August 2017.
Shipments to China rise because the nation is safeguarding sufficient Palm Oil reserves at home, Gapki said.
No comments:
Post a Comment