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PAKISTAN, INDONESIA TO INK AGREEMENT ON PALM OIL

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Source: APCC Cocommunity Newsletter

Indonesia and Pakistan are to forge an agreement on palm oil soon, perhaps in a month or two according to Nasir Ibrahim, a senior member of the Pakistan Vanaspati Manufacturers’ Association. The agreement will cut duty on Pakistani palm oil imports from Indonesia to around 5% from the present rate of 15%. The duty of Malaysian palm oil is zero. The 15% spread between duties of palm oil imports from Malaysia and Indonesia has kept Indonesia out of the Pakistani market. The agreement, once signed, will allow Indonesia to compete again with Malaysia and increase its market share in Pakistan. However, Malaysia will still have an edge with Indonesia palm oil to be levied 5% duty against zero duty on Malaysian palm oil. (UCAP Bulletin)

 

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