New Delhi: The Indian government in a released statement on July 9 said, “Indonesia will cut tariffs on sugar from India as part of efforts to help facilitate imports of the sweetener.”
According to the reports, earlier Indonesia had asked India to cut its tariff on refined palm oil to 45 per cent, matching the levy faced by rival producer Malaysia, and offered market access for Indian sugar in exchange.
Currently, Indonesia, the world’s second-largest sugar importer, imports raw sugar from Thailand, Australia, and Brazil. India is the world’s biggest importer of palm oil.
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