KUALA LUMPUR: Malaysia is open to negotiation with Indonesia on the possibility to harmonise the crude palm oil (CPO) export duties structure of both countries. Currently, the wide gap in Indonesia’s export duty differential between CPO and refined palm oil encourages more production of refined palm oil in the republic, which resulted in an increased competition with Malaysia particularly in the downstream sector. On exports, palm oil market share in China fell to 45.7% in 2015 from 52% in 2014, while Indonesia’s market share rose to 53.9% from 47% in the same period. Moving forward, he believes palm oil products have a great potential in the Middle East and Asean countries. I am going to Iran this month (January) to negotiate on higher imports for our palm oil.

Source: The Star January 15, 2017 23:38 UTC