Jakarta (ANTARA News) Trade Minister EnggartiastoLukita said Indonesias CPO export to India has not been disrupted by the import duty increase imposed by the country.
"Our exports remain high and have not yet been affected," Lukita said at the Coordinating Ministry for Economic Affairs Building in Jakarta on Wednesday.
Lukita said the government has sent a formal letter on the increase in CPO import duties, especially because India is one of the main destination countries of Indonesian CPO exports.
"We have submitted our objections formally and in writing, and request a review of the imposition of the import duty," he said.
However, Lukita ensures there is no interruption experienced by Indonesias CPO exports as Indonesias trade balance surplus with India is still quite high.
Lukita also understands Indias policy to raise CPO import duties, because the country wants to protect farmers and encourage the vegetable oil industry and its derivatives.
"They are trying to encourage the vegetable oil industry and its derivatives, because our (CPO) price is very low," he said.
Currently, Lukita is waiting for a formal letter of reply from the Indian government regarding the customs tariff adjustment.
India is one of the countries that is currently the main destination of Indonesian palm oil exports, besides China, Pakistan, Spain, the Netherlands, Egypt and the United States.
Meanwhile, the Central Bureau of Statistics noted that Indonesia experienced a trade balance surplus with India in February 2018 of 1.33 billion US dollars.
Source: Antara News