Australian Prime Minister Turnbull and Indonesian President Widodo reached agreement to each reduce tariffs on a key commodity as a mark of progress towards the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) currently under negotiation. Indonesia will reduce tariffs on the import of Australian raw sugar and Australia will eliminate import duties on Indonesian herbicides and
Indonesian cocoa production is likely to fall over 10 percent in the year to Sept 2018 following a deep slide in prices, a leading trader told Reuters. Asia’s biggest cocoa producer, will produce some 240,000 tons in 2017/18, down from 270,000 tons a year ago, Paul Davis, deputy head of cocoa at French commodity trader Sucden
Demand for the green smoothie mainstay has surged in Japan the past few years. In 2016, Japan imported 74,000 tons ($211m) of the fruit, up 2.5 times from a decade earlier. Mexico is the major supplier with 93 percent share followed by US, Newe Zealand, Peru and Chile. Demand has risen in other countries, too.