InfoSAWIT, JAKARTA – Crude palm oil (CPO) reference price to decide out fee (OF) and tariff on Public Service Obligation Palm Oil Plantation Fund Management Agency (PFMA) or known as export levy on 1 — 15 January 2024 would be US$ 746,69/metric ton (MT). The numbers get smaller US$ 20,82 or 2,71 percent from on 16 — 31 December 2023 which was US$ 767,51/MT.
It was written on the Decision of Minister of Trade Number 2017 / 2023 about Crude Palm Oil Reference Price that is charged on Out Fee and Tariff on Palm Oil Plantation Fund Management Agency on 1 — 15 January 2024.
“CPO reference price gets cheaper to be US$ 746,69/MT. That is why according to the regulation of minister of finance (RMF), the government would charge CPO OF US$ 18/MT and CPO levy US$ 75/MT on 1—15 January 2024,” General Director of Foreign Trade Ministry of Trade, Budi Santoso said as in the official statement to InfoSAWIT, Friday (29/12/2023).
The sources of price to decide CPO reference price were from the average prices on 10—24 December 2023 at Indonesian CPO Exchange that was US$ 712,19/MT, at Malaysia Derivatives Exchange that was US$ 781,19/MT, and Rotterdam that was US$ 873/MT.
According to the Regulation of Minister of Trade Number 46 / 2022 about Procedures to Decide Export Reference Price on Agriculture and Forestry Products that are in charged on Out Fee; Reference Price on Agriculture and Forestry Products and Lists of Brands of Refined, Bleached and Deodorized Palm Olein that are charged on Out Fee and Tariff on Public Service Obligation Palm Oil Plantation Fund Management Agency, if the average prices from three sources are different and more than US$ 40, CPO reference price would be calculated by using the average from two sources that become the median and the closest source from the median. It means, reference price would be from Malaysian Derivatives Exchange and Indonesian CPO Exchange. According to the calculation, CPO reference price would be US$ 746,69/MT.
CPO OF on 1—15 January 2024 refers to Colom 3, Attachment letter C, RMA Number 39/PMK/0.10/2022 juncto (jo). Number 71 / 2023 which is US$ 18/MT. CPO levy on 1—15 January 2024 refers to Attachment Letter C, RMF Number 103/PMK.05/2022 jo. 154/PMK.05/2022 which is US$ 75/MT. It means CPO OF and levy would be US$ 93/ton.
Besides, palm cooking oil (refined, bleached, and deodorized/RBD Palm Olein) in branded packages and packed within net ≤ 25 kg would get CPO OF US$ 0/MT and the brand lists would be registered in the Decision of Minister of Trade Number 2018 / 2023 about Brand Lists of Refined, Bleached, and Deodorized (RBD) Palm Olein in Branded Packaged and Packed with net about 25 Kg.
Budi Santoso said, the decreasing CPO reference price happened for some factors, such as, the decreasing demands from China because it got more expensive in the previous periods. “Including the decreasing production in Indonesia and Malaysia because of climate, and the cheaper soyoil,” Budi said. (T2)