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Jakarta Post

Palm oil industry relieved with China’s quota removal

  • Rachmadea Aisyah

    The Jakarta Post

  /   Wed, August 14 2019   /  02:22 am

The Indonesian palm oil industry is finding some comfort amid mounting challenges in palm oil exports as China is set to remove the import tariff quota for palm oil. As a repercussion of Chinese companies’ decision to stop buying United States agricultural products in light of the ongoing trade war with the US, the Chinese Commerce Ministry last week removed palm oil — among other commodities — from its import tariff quota.The move is expected to boost Indonesian palm oil exports to China, the only major export destination of the commodity that showed positive growth in the first half in comparison to other palm oil export destinations such as the European Union and India. “Their will to lower this barrier is a positive development and the effect is big because this highly relates to China’s staple needs,” said Lakshmi Sidarta, secretary-general of the Indonesian Palm Oil Ass...