India and Indonesia Forge Stronger Ties with New Palm Oil Pact
The Indian Vegetable Oil Producers' Association and Indonesian Palm Oil Association have signed a three-year pact to bolster economic ties and food security. This agreement focuses on sustainable practices and resilient supply chains in the palm oil sector, crucial for India's edible oil imports and Indonesia's economy.
- Country:
- India
In a significant move to bolster economic relations and ensure food security, the Indian Vegetable Oil Producers' Association (IVPA) and the Indonesian Palm Oil Association (IPOA) have signed a three-year memorandum of understanding.
The agreement aims to fortify collaboration in the palm oil sector, a cornerstone of edible oil trade between India and Indonesia, focusing on sustainable practices and stable supply chains. The pact includes technical exchange, policy coordination, and market intelligence to enhance the supply chain.
Leaders from both associations emphasized the shared commitment to sustainability and the inclusion of smallholder farmers in the value chain, with the agreement expected to advance India's food security and climate goals through a reliable supply chain.
(With inputs from agencies.)
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- India
- Indonesia
- palm oil
- food security
- economic ties
- sustainable practices
- pact
- edible oil
- trade
- IVPA
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