Kuala Lumpur, Dec 03: Malaysia has said it would pursue the Indian government to review the 75 per cent import tariff imposed on crude palm oil. Malaysian Industries Minister Lim Keng Yaik has said his country hopes that India would consider lowering the tariff considering that crude soyabean oil's import duty is only at 45 per cent.

The high tariff imposed on palm oil products could be one of the reasons for the drop in Indian imports of Malaysian palm oil over the past three years, he told a session on "trade, food and agroprocessing and special economic zones" being held here as part of seven-day Malaysia-India business forum 2003 which began yesterday. Those present at the session included Commerce and Industry Minister Satyabrata Mookerjee, trade and Consumer Affairs Deputy Minister S Subramaniam and Secretary General of Federation of Chambers of Commerce and Industry Amit Mitra.

"Malaysia has consistently suppled palm oil at very competitive prices to supplement India's shortfall in oils and fats production.
"Exports of Malaysian palm oil to India reached a record high in 1999 with an export volume of 2.4 million tonnes but have declined gradually over the last few years to reach 1.7 million tonnes in 2002," he was quoted as saying by 'Business Times' daily.
Lim said the trend can be improved and any trade or tariff barriers that may appear to be obstacles to the continued trade growth can be mutually reviewed. Bureau Report