Asian palm oil importers push producers for stable export policies

Published 2023년 3월 7일

Tridge summary

The Asian Palm Oil Alliance (APOP), which includes India, Pakistan, Bangladesh, Nepal, and Sri Lanka, is seeking to expand its member base and address issues faced by existing members. The alliance's chairman, Atul Chaturvedi, highlighted the problem of higher export duties on crude palm oil (CPO) compared to refined palm oil, which encourages the import of the refined product. This situation is causing plant downtime in importing countries due to lower demand for CPO. Chaturvedi urged producers to reconsider this duty structure, which disadvantages buyers. Dorab Mistry, director of Godrej International, emphasized the importance of Indonesian and Malaysian producers recognizing Asian countries as their most reliable buyers and emphasized the need for sustainable and amicable business practices within the industry.

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

Original content

India, Pakistan, Bangladesh, Nepal and Sri Lanka are currently members of the Asian Palm Oil Alliance (APOP) and the alliance wants to attract more buyers, Atul Chaturvedi, APOP Chairman, said at the annual member countries meeting in Kuala Lumpur. Importing countries have built plants to process CPO, but producers impose higher export duties on crude palm oil than refined palm oil, making it cheaper to buy the refined product than the raw one, Chaturvedi said. "A higher duty on crude palm oil is causing plant downtime in importing countries. Producers need to think about this duty structure, which hurts buyers," he said. Dorab Mistry, director of Indian ...

Source: Oilworld