Connect with us
intralinks

India

Thailand expands palm oil and rubber markets to India

India is the world’s largest consumer of vegetable oil, consuming some 12 million tons of vegetable oil, 70% of which is made of palm oil, yearly and importing some 10 million tons of palm oil yearly

Published

on

BANGKOK, 21st May 2019 (NNT) – The Ministry of Commerce has led a delegation to penetrate the export markets for lowered-priced rubber and palm oil to India which has over a billion population and all levels of consumers.

A major Indian tire manufacturers has assured to buy Thai rubber products within this year.

Acting Commerce Minister Chutima Boonyapraphat and executive officials of the Department of International Trade Promotion have visited India to expand the export markets for Thai farm goods while the major tire manufacturer in Chennai assured to buy Thai rubber products as raw materials for tire industry and suggested that the Thai authorities recommend reliable rubber suppliers for them.

V. Krisanaram, the chief executive officer of Emerald Resilient Tire Co., confirmed that his firm will import Thai rubber products this year due to the confidence of their qualities and competitiveness against other countries’ rubber products.


A major Indian tire manufacturers has assured to buy Thai rubber products within this year.

India is the world’s largest consumer of vegetable oil

His firm has earlier imported rubber products from Malaysia, Vietnam and Indonesia and never from Thailand as yet. Thus, the Thai rubber products will become new raw materials suppliers for India.

Commerce Ministry tackles oil palm pricing

The Thai palm oil export to India is still being faced with a 50% import tariff

Besides, Thailand has called on India to buy more palm oil from Thailand in place of those from Indonesia and Malaysia. India is the world’s largest consumer of vegetable oil, consuming some 12 million tons of vegetable oil, 70% of which is made of palm oil, yearly and importing some 10 million tons of palm oil yearly.

Loading...

However, the Thai palm oil export to India is still being faced with a 50% import tariff, compared to 45% for the Indonesian and Malaysian palm oil under CECA agreements. An ASEAN-India FTA agreement might be reached to reduce the Indian import tariff for the Thai palm oil.

Source link

Click to comment

Leave a Reply

Asean

India, ASEAN Agree to Review FTA Scope, Address Uneven Market Access

Chief among India’s concerns is that Indian exporters have been denied a level playing field in the Southeast Asian market. Moreover, New Delhi believes that China has taken undue advantage of the ASEAN-India FTA (AIFTA) due to weak rules of origin.

Published

on

India, ASEAN Agree to Review FTA Scope, Address Uneven Market Access

The 8th East Asia Summit (Economic Ministers’ Meeting) was held virtually on Friday, followed by the 17th ASEAN-India Economic Ministers Consultations on August 29.

(more…)
Continue Reading

India

RCEP trade deal hits snag over India’s demand

The 16 Asian and Oceanian countries involved in the regionwide RCEP trade deal have decided to delay the conclusion of that deal until next year.

Published

on

RCEP negotiations hit a snag as India has grown wary of an expected influx of goods from China, with which the South Asian country runs a massive trade deficit.

(more…)
Continue Reading
Wise

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 14,086 other subscribers

Recent