India, Indonesia to work together on sustainable Palm Oil
Commodity Online | July 18 2018
UPDATED 17:18:17 IST

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India and Indonesia signed a Memorandum of Understanding (MoU) to promote the production and trade of sustainable Palm Oil.

The agreement on sustainable palm oil production, was signed by the Indonesian Palm Oil Board (DMSI), the Solvent Extractors Association (SEA) of India and civil society organization Solidaridad Network Asia.

"India uses our palm oil products a lot so we need to build communications not only between the two governments but also between associations, said Indonesia's coordinating ministry for economic affairs.

A network of associations could help the government campaign about the use of palm oil in India and address misconceptions about the commodity, the ministry said.

SEA president Atul Chaturverdi, who promised to campaign for the sustainable production of Indonesian palm oil, said the MoU would allow for better cooperation between Indian and Indonesian palm oil stakeholders.

"This MoU can be a way forward to create a sustainable model for Indonesia, which is good for smallholders as well as consumers of palm oil in India," he said.

Commodity Arrivals Rate
Mustard Oil 220 10750.00
Coconut Oil 0.1 21000.00
Arecanut 4.5 2200.00
Sugar 0.4 4000.00

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