Indonesia to ratify Pakistan trade deal to protect palm oil exports

The Indonesian government will push ahead and ratify a trade deal with Pakistan to protect US$1.5 billion in annual palm oil exports to the South Asia nation, a cabinet minister said. Indonesia is the world’s biggest palm oil producer and although it is the dominant exporter to Pakistan, it has been losing market share to the world’s number two producer, Malaysia, according to Abdul Rasheed JanMohammed, chairman of Pakistan Edible Oil Refiners Association.