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The Indonesian Palm Oil Board (IPOB), the Solvent Extractors Association of India and non-profit organisation Solidaridad Network are in talks to propose incentives on shipments of palm oil certified by Indonesia Sustainable Palm Oil (ISPO), industry officials said.
The groups aims to propose an import tax cut for Indonesian palm oil shipments to India, R. Azis Hidayat, the head of ISPO Commission Secretariat said on Thursday.
India, the world’s top vegetable oil importer, cut tax on palm oil imports earlier this year, but the tax imposed on palm from Indonesia, the world’s top exporter, was higher than that imposed on rival Malaysia.
The Indonesian government has offered opening up market for Indian raw sugar in exchange for lower tax on Indonesian palm oil. On Wednesday, ISPO said it has certified palm plantation covering 4.11 million hectares.
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