In Ukraine, UkrAgroConsult reported that exports of palm oil from Indonesia rose sharply in June as exporters raced to get out before U.S. tariffs were imposed, according to official data released by Statistics Indonesia (BPS) showed on Friday.
Palm oil shipments from the world’s largest producer rose 15.1% in June and 24.91% in the first half of the year, according to the report.
The US Government set Indonesia’s import tariff at 19% under a deal reached in July, rather than the previous threat of a 32% tariff, after the Indonesian authorities agreed to scrap most tariffs on U.S. industrial and agricultural products and buy more American goods. Indonesia accounts for about 85% of U.S. palm oil imports.
Earlier, it was reported that the EU would allow Indonesia to supply palm oil to the bloc at a 0% rate, the report added.
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Category: Food & Agriculture
