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July 2022: CPO Reference Price Gets Cheaper: CPO OF is US$ 288/MT



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July 2022: CPO Reference Price Gets Cheaper: CPO OF is US$ 288/MT

InfoSAWIT, JAKARTA –Crude Palm Oil (CPO) reference price to decide Out Fee (OF) in July 2022 is US$ 1.615,83/metric ton (MT). It gets cheaper US$ 84,29 or about 4,96% from the previous month which reached US$ 1.700,12/MT. It is written in Regulation of Minister of Trade Number 43 / 2022 about Export Reference Price Decision on Agricultural and Forestry Products on Out Fee.

“It is beyond the threshold which reaches US$ 750/MT. The government managed that CPO OF is US$ 288/MT in July 2022,” General Director of Foreign Trade Ministry of Trade, Veri Anggrijono said, as in the official statement to InfoSAWIT, in Jakarta, Friday, (8/7/2022).

CPO OF in July 2022 refers to Colom 17, Attachment C, Regulation of Ministry of Finance Number 98/PMK.010/2022 which is US$ 288/MT. The numbers increased from June 2022 period.

The decreasing CPO reference price happened for that the Government of Indonesia re-opened CPO and its derivative export products though there are no much increasing demands. Prior Indonesia banned CPO exports. “The result, India substitute CPO by sunflower oil. Besides it happened for the lockdown in China,” Veri said. (T2)


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