India and China Were the Highest Traders of CPO

India and China Were the Highest Traders of CPO

InfoSAWIT, JAKARTA – The information from Indonesian Palm Oil Association (IPOA) mentioned that India bought CPO and its derivative trade in August 2018 reaching 823 thousand tons, or it was the highest numbers and increased 26% compared to it in the previous month.

These were the highest numbers during the trade of the two countries. “The trade issue between India and United States of America seems to make a chance to supply vegetable oil as the replacer of soybean,” Executive Director of  IPOA, Mukti Sarjono said in the official statement to InfoSAWIT, Monday (1/10/2018).

In June 2018, India increased the incoming import tax tariff ofcrude and refined products to soybean, sunflower, bean, andrapeseed. 35% for refined productsand 45% for crude grades.

The increasing CPO and its derivative products exports happened in China too reaching 26%, United States of America reaching 64%, the African countries reaching 19%, and Pakistan reaching 7%.

When some countriees increased their CPO imports, it did not happen in the Blue Continent countries. The information from Indonesian Palm Oil Association (IPOA), the countries in European Union decreased the CPO and its derivative imports about 10% and Bangladesh did too reaching 62%.

The decreasing imports in the European countries happened for the stocks of rapeseed and sunflower were high still. “Bangladesh drastically decreased the imports for they had imported CPO in the previous month and the stocks were much too,” Mukti said. (T2)


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