InfoSAWIT, JAKARTA – Crude palm oil (CPO) reference price (RP) to decide out fee and tariff on Public Service Obligation Palm Oil Plantation Fund Management Agency (PFMA) or known as levy on 16 - 30 November 2023 would be US$ 750,54/metric ton (MT). The numbers escalated US$ 1,61 or 0,22 percent from the previous period (1 - 15 November 2023) that was US$ 748,93/MT.
The decision was written on the Decision on Minister of Trade Number 1911 / 2023 abput Crude palm oil (CPO) Reference Price that is Charge on Out Fee (OF) and Tariff on Public Service Obligation Palm Oil Plantation Fund Management Agency (PFMA) on 16 - 30 November 2023.
The price to decide CPO PR was from the average price on 25 October 2023 - 9 November 2023 at Indonesia CPO Exchange which was US$ 734,60/MT, CPO price at Malaysia Derivatives Exchange that was US$ 766,49/MT, and CPO price at Rotterdam that was US$ 820,68/MT. According to the Regulation of Minister of Trade Number 46 / 2022, if CPO average price from three sources is more than US$ 40, CPO PR would be calculated by using two sources as the median and the closes source of price from the median which made CPO PR derive from Malaysia Derivatives Exchange and Indonesia CPO Exchange. From the calculation, CPO PR would be US$ 750,54/MT.
“CPO PR escalates and more than threshold which is USD 680/MT. According to the regulation of minister of finance (RMF), the government decided CPO OF would be USD 18/MT and CPO levy would be US$ 75/MT for the second period of November 2023,” General Director of Foreign Trade Ministry of Trade, Budi Santoso said, as in the official statement to InfoSAWIT, Thursday (16/11/2023).
Based on RMF Number 39/PMK/0.10/2022 juncto (jo.) Number 71 / 2023, CPO OF on 16 - 30 November 2023 is written on column three, attachment letter C, which is, US$ 18/MT. Based on RMF Number 103/PMK.05/2022 jo. Number 154/PMK.05/2022, CPO levy on 16 - 30 November 2023 is written on column three, Attachment letter C which is US$ 75/MT. CPO OF and levy remain the same as on 1 - 15 November 2023. The total CPO OF and levy would be US$ 93/Ton.
“The increasing CPO OF and levy happened for some factors, such as, the projection of decreasing palm oil production in Indonesia, the increasing vegetable oil and its derivative demands in China as the main consumer,” Budi said. (T2)