India Seen Taking Advantage of Indonesian Palm Tax Cut

Capitalising on an export tax cut by Indonesia, India is likely to have bought more palm oil in August at the cost of soya oil imports which may have halved compared to the previous month, a Reuters survey showed on Sep. 12, 2011.

Indonesia reduced export tax cap on palmolein products (downstream) to 13% from 25% in August, making import of refined products cheaper and crude products costlier for countries like India.