Indonesia seeks ‘predictable policy’ by India on palm oil imports

Indonesia, the world’s biggest producer and exporter of crude palm oil (CPO), on Wednesday sought a “predictable policy: on shipment of cooking oils to India. “We both are big populous countries in the world and have large domestic markets to cater to. We need to have a predictable policy taking into consideration the supply and demand side issues,” Ina Hagniningtyas Krisnamurthi, Indonesia’s ambassador to India, told FE. She said that there is a need for openness in understanding the stock management policies of both the governments and “we hope that predictable policies or certainty policies will not hamper the trade itself,”. “With climate change being frequent occurrences, we also understand that Indian government will also impose certain policies while we also impose certain policies when it comes to weather and yield,” Krisnamurthi said referring imports duties imposed by India and export restrictions by Indonesia. On May 30, India reduced the effective import duty including ...