MALAYSIA: Traders worry as Indian market for refined oils decimated by new import duties
As news arrives from India that the government is considering hiking the import taxes of edible oils by a further 10% ( http://www.just-food.com/news_detail.asp?art=16975 ), the world's largest palm oil producer and refiner is getting concerned. Malaysia is set to suffer as the Indian market balances are tipped in the favour of crude palm oil (CPO) and other soft oils, while comparably extortionate duties on refined, bleached or deodorised palmolein (RBD) decimate demand in Malaysia's largest export market.
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