Wait...
  1. Home >
  2. Export Import News >
  3. Import News >
  4. India likely to import 2.5 million tonne palm oil from Malaysia >
  5. India likely to import 2.5 million tonne palm oil from Malaysia

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

India likely to import 2.5 million tonne palm oil from Malaysia.


Date: 31-07-2019
Subject: India likely to import 2.5 million tonne palm oil from Malaysia
India is likely to import 2.5 million tonne palm oil from Malaysia following its 5 percent preferential duty on the edible oil, Malaysian Palm Oil Council CEO Kalyana Sundram said.

"In 2018, India had imported 2.18 million tonne from Malaysia. This year due to our 5 percent preferential duty on palm oil, we are expecting it to go up to 2.5 million tonne," Sundram told PTI on the sideline of the 6th Malaysia-India Palm Oil Trade Fair and Seminar (POTS).

He said, India consumes 20 million of oils and fats and produces 10 million tonne, the rest are imported.

"We see huge potential for palm oil in India," he added.

Speaking on the occasion, Malaysian Primary Industries Minister Teresa Kok said, the total trade between Malaysia and India has increased by 2.2 percent to $15.56 billion in 2018 from $14.29 billion in 2017, which mainly comprised of palm oil, oils and gas, automobiles, chemicals, and finished goods.

While, Malaysian foreign direct investment (FDI) in India from April 2000 to March 2019, stood at $932.19 million.

"Palm oil is one of the largest commodities traded for Malaysia, and we regard India as a very important export destination. We should also explore new areas for further cooperation and rejuvenate our business linkages and cooperation, to ensure continuous progress of the palm oil industry," she added.

Kok also urged the private sectors of both the countries to explore areas for further cooperation and rejuvenate business linkages, in order to ensure continuous progress of the bilateral trade between the two countries.

Source: moneycontrol.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 20-01-2020
A.P. (DIR Series) Circular No.17
Introduction of Rupee derivatives at International Financial Services Centres (IFSC)

Date: 17-01-2020
TRADE NOTICE NO. 46/2019-20
Mis-classification goods under 'Others' category at the time of Import- reg.

Date: 16-01-2020
Notification No.05/2020 - Customs (N.T.)
Exchange Rates Notification No.05/2020-Custom (NT) dated 16.01.2020.

Date: 15-01-2020
Notification No. 03/2020- Customs (N.T.)
Notification of Ghasuapara LCS for imports also by amendment of Notification No. 63/1994-Customs dated 21st November 1994

Date: 15-01-2020
Notification No. 04/2020-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seed, Areca nut, Gold & Silver - reg.

Date: 15-01-2020
Circular No 03/2020-Customs
Implementation of PGA e-SANCHIT– Paperless Processing under SWIFTUploading of Licenses/Permits/Certificates/Other Authorizations (LPCOs) by PGAs – reg

Date: 15-01-2020
A.P. (DIR Series) Circular No. 16
Hedging of Commodity Price Risk and Freight Risk in Overseas Markets (Reserve Bank) Directions, 2018 - Amendment

Date: 14-01-2020
PUBLIC NOTICE No. 56/2015-2020
Amendments in Standard Input Output Norms (SION) of Engineering Product group: Suspension of SION C-888 - reg

Date: 14-01-2020
Notification No. 4/2020-Customs (N.T./CAA/EXTENSION/DRI)
Appointment of CAA by DGRI

Date: 13-01-2020
Notification No. 05/2020 – Central Tax
Seeks to appoint Revisional Authority under CGST Act, 2017.



Exim Guru Copyright © 1999-2020 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o Infodrive India
E-2, 3rd Floor, Kalkaji Main Road
New Delhi - 110019, India
Phone : 011 - 40703001