| THE IMPLICATIONS OF MICECA ON MALAYSIAN PALM OIL |
16
VIEWS
|
by Bhavna Shah
Regional Manager, India
|
The Malaysia-India Comprehensive Economic Agreement (MICECA), implemented with effect from 1st January, 2019, provided for a maximum import duty of 40% and 45% on Crude and Refined Palm Oil/Olein respectively. This applied to POP imported into India from Malaysia.
At the same time, the ASEAN-India Comprehensive Economic Agreement (AICECA), implemented at the same time, provided for a maximum import duty of 40% and 50% on Crude and Refined Palm Oil/Olein respectively, to be effective 1st Jan 2019. Since imports from Malaysia were governed by the MICECA, the duties under the AICECA applied to imports from Indonesia.
Although these changes had been expected for some time, there was confusion as to the different rates provided for Refined Products in the two agreements. Pressure was exerted from various quarters to either not implement these lower rates or to introduce some counter measures to minimise the impact of such reduction. |
|
You need to login to view the report.
|
| Questions & Answers (0) : |
| Please login to post Question & Answer |
|
