MUMBAI/NEW DELHI (June 3): India is considering reducing import taxes on edible oils after cooking oil prices hit record highs last month, two government and two industry officials told Reuters, to reduce food costs in the world's biggest vegetable oil importer.
While no decision has been made, the tax reduction could lower local prices and boost consumption, giving support to Malaysian palm oil, along with soy and sunflower oil prices, and dampening prices of local oilseeds such as rapeseed, soybean and groundnut.
At its core, plantation farming is used solely for commercial purposes – a labour and capital-intensive investment into the specialised growth of one major crop with export as the end goal. - Bernama file pic
SOUTHEAST Asia is renowned for the plantations that sprawl across millions of acres of its territories, some of the most common including acacia, eucalyptus, and teak. These abundant crops are hailed for their fast wood production, whose yields are useful in the production of a myriad of products.