Palm oil: GK, General Studies and Current Affairs

Union Cabinet approves MoU between India and Malaysia

On October 21, 2020, the Union Cabinet chaired by Prime Minister Narendra Modi approved the Memorandum of Understanding signed between The Institute of Chartered Accountants of India and the Malaysian Institute of certified public Accountants. The agreement enables the  qualified Chartered Accountants of the countries to join other institutes based on their qualification. Highlights Based ..

Negative impact of palm oil use in developing countries

The use of palm oil is widespread in developing countries because of its cheap availability. It is extracted from the fruits of the African Oil Palm tree. It is used in different forms: refined, blended or in the form of vanaspati. Studies have highlighted the negative impact of the oil’s use in India. India is ..

Update – FDI in seeds & plantation doubles

In a written reply by the Union Minister of Agriculture, Narendra Singh Tomar informed the Lok Sabha that the Foreign Direct Investment in hybrid seeds and tree plantation had doubled in the previous five years. The FDI which was USD 17.5 million in 2014-2015 has now gone up to USD 40.5 million in 2018-2019. This ..

Alfred Brownell wins 2019 Goldman Environmental Prize

Alfred Brownell from Liberia, an environmental lawyer and activist, has been awarded the prestigious 2019 Goldman Environmental Prize for exposing alleged abuse by the palm oil company Golden Veroleum Liberia and helping to prevent it from converting about 50 km2 of forest that is home to elephants, pygmy hippopotamuses and chimpanzees into palm oil plantations. ..

India cuts import tax on crude palm oil sourced from ASEAN nations from 44% to 40%

India has slashed import taxes on crude and refined palm oil sourced from Southeast Asian (ASEAN) countries after a request from suppliers. According to the official notification, the duty on crude palm oil was lowered to 40% from 44%, while the tax on refined palm oil was cut to 45% from 54% if imported from ..