Indonesia: Meeting with the Minister of Agriculture of Malaysia, Trade Minister Zulhas discussed palm oil exports to Europe

Published 2023년 2월 1일

Tridge summary

Trade Minister Zulkifli Hasan is planning to meet with the Malaysian Minister of Agriculture in early March to discuss palm oil exports to Europe. Malaysia is considering cutting palm oil export taxes to expand the market and make up for the global vegetable oil supply shortage caused by the Russian invasion of Ukraine and Indonesia's export ban. The tax cut could be between 4 percent to 6 percent, down from the current 8 percent, and the decision is expected to be made in June. Malaysia is also planning to increase its share of the vegetable oil market and may delay the implementation of its B30 biodiesel mandate to prioritize supplies for the global and domestic food industry.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Trade Minister Zulkifli Hasan will meet with the Malaysian Minister of Agriculture in early March. The meeting will discuss the issue of palm oil exports to Europe. "Oh yes, I was going there before I wanted to see you, only because I missed the time. At that time, the Public Works came to me and the president summoned them," said Zulhas when met at the meeting and handover of the ASEAN BAC Chair from Cambodia to Indonesia, Monday (30/1), at the Shangri-La Hotel, Central Jakarta. Zulhas has not confirmed that this meeting will be held in Indonesia or in Malaysia. However, he plans to visit Malaysia in early March. "I plan to go to Malaysia in early March or later who will come first. Either they come first or we go first," he said. Previously, Malaysia's commodity ministry proposed cutting palm oil export taxes to expand the market and fill the shortfall in global vegetable oil supplies. Malaysia's Minister of Plantation Industries and Commodities, Zuraida Kamaruddin, said in an ...

Source: Gapki