The EU will allow Indonesia to supply palm oil with a zero rate.

The European Union and Indonesia, within the framework of the concluded trade agreements, have agreed on the supply of palm oil with a customs duty of 0%, reports the Jakarta Globe. Recently, the parties signed a political Comprehensive Economic Partnership Agreement (CEPA), but the EU was forced to limit the import of palm oil in accordance with the requirements of the deforestation law (EUDR), which comes into force at the end of the year for medium and large companies. Initially, the EU refused to include palm oil in the agreement, but it turned out that it is indeed very much needed in Europe. The CEPA agreement will determine the quotas for the volumes of Indonesian palm oil that will be supplied to the EU with zero customs duty, but all supplies beyond the specified limits will be subject to a 3% duty. "Such quotas will be introduced for crude palm oil and palm kernel oil. And the 3% duty is significantly lower than the 19% imposed against us by the United States," reported ...