India Ready to Supply Import Duty on Palm Oil, Darmin Asked to Minister Negotiable

JAKARTA – Coordinating Minister for Economic Affairs Darmin Nasution said he would ask the Minister of Commerce to negotiate India’s plan to raise import duties on crude palm oil (CPO).

“We are trying actually, asked the Minister of Trade to talk there first, so equally emerging country first,” he said in Jakarta, Friday (16/3/2018).

He said India always asks for a balance in its international trade with Indonesia. “they were always reminded, import the meat, we continue to import, abis it is rice imports,” he added.

This is considered reasonable Darmin, because Indonesia’s trade surplus with India is very large. “Because we surplusnya really big there.”

Based on Business records, Indonesia’s trade balance surplus with India in the period January – October 2017 reached US $ 8.3 billion.

Meanwhile, the value of CPO exports and derivatives from Indonesia to India in 2017 reached US $ 5.1 billion, an increase of 41.88% from the previous year which amounted to US $ 3.6 billion.

In addition, Damin said, it would also consider maintaining good relations with India. Because it is not impossible that the Indian government will be more protectionist with the big surplus received by Indonesia.