InfoSAWIT, JAKARTA – Crude palm oil (CPO) reference price to decide out fee (OF) and tariff on Palm Oil Plantation Fund Management Agency (PFMA) on 1—31 March 2024 would be US$ 798,90/metric ton (MT). The numbers get cheaper US$ 7,51 or 0,93 percent from the previous period that was US$ 806,40/MT.
It is written on the Decision of Minister of Trade Number 199 / 2024 about Crude Palm Oil Reference Price that is charged on Out Fee and Tariff on Palm Oil Plantation Fund Management Agency on 1 March 2024 to 31 March 2024.
It refers to Colom number 4 Attachment letter C Regulation of Minister of Finance (RMF) Number 39/PMK/0.10/2022 juncto (jo) Number 71 / 2023 which is US$ 33/MT. CPO levy in the period refers to Attachment letter C RMF Number 103/PMK.05/2022 jo. 154/PMK.05/2022 which is US$ 85/MT.
“CPO reference price is almost the same with the threshold which is US$ 680/MT. referring to available RMF, the government decided CPO OF would be US$ 33/MT and CPO levy would be US$ 85/MT on 1—31 March 2024,” General Director of Foreign Trade Ministry of Trade, Budi Santoso said, as in the official statement to InfoSAWIT, Saturday (2/3/2024).
CPO OF and levy would become US$ 118/ ton. CPO reference price drived from the average price since on 25 January—24 February 2024 at Indonesia CPO Exchange which was US$ 773,31/MT, at Malaysia Derivatives Exchange which was US$ 824,49/MT, and at Rotterdam which was US$ 898,70/MT.
Based on the Regulation of Minister of Trade Number 46 / 2022, if average price difference from the three sources is more than US$ 40, CPO reference price would apply two sources that become the median and the closest price from the media. It means, it derived from Indonesia and Malaysia stocks.
“The cheaper CPO refence price happened for other vegetable oils got cheaper, namely soybean and the decreasing rupiah towards American dollar,” Budi said.
Meanwhile palm cooking oil (refined, bleached, and deodorized/RBD palm olein) in branded packages and packed within net ≤ 25 kg would get OF BK US$ 0/MT. The brands are registered on the Decision of Minister of Trade Number 200 / 2024 about Brand Lists of Refined, Bleached, and Deodorized (RBD) Palm Olein in Branded Packages and Packed within Net ≤ 25 Kg. (T2)
