InfoSAWIT, JAKARTA – Crude palm oil (CPO) reference price to decide out fee (OF) and tariff on Palm Oil Plantation Fund Management Agency (PFMA) or normally called export levy in April 2024 would be US$ 857,62/metric ton (MT). the numbers got escalated that reached US$ 58,72 or 7,3% from March 2024 that reached US$ 798,90/MT.
The decision is written on the Decision of Minister of Trade Number 416 / 2024 about Crude Palm Oil Reference Price that is charged by Out Fee and Tariff on Public Service Obligation – Palm Oil Plantation Fund Management Agency in April 2024. CPO OF in April 2024 refers to Colum Number 5, Attachment letter C, Regulation of Minister of Finance (RMF) Number 39/PMK/0.10/2022 junto (jo) Number 71 / 2023 that reached USD 52/MT. meanwhile CPO export levy in April 2024 refers to Attachment letter C, RMF Number 103/PMK.05/2022 jo. 154/PMK.05/2022 that reached USD 90/MT.
“Now CPO reference price escalates that is beyond the threshold that reached US$ 680/MT. referring to available RMF, the government decided CPO OF would be US$ 52/MT and CPO levey would be US$ 90/MT in April 2024,” General Director of Foreign Trade Ministry of Trade, Budi Santoso said, as in the official statement to InfoSAWIT, Tuesday (2/4/2024).
CPO reference price was decided from the sources of average price on 25 February—24 March 2024 at Indonesia CPO Exchange that reached US$ 830,85/MT, Malaysia Derivatives Exchange that reached US$ 884,39/MT, and CPO Rotterdam that reached US$ 971,60/MT.
Based on the Regulation of Minister of Trade Number 46 / 2022, if there are differences of the average price from the three sources that reached more than US$ 40, CPO reference price calculation should apply the average price from two sources to be the median and the closest sources from the median itself. From that, CPO reference price derived from Malaysia Derivatives Exchange and Indonesia CPO Exchange.
It means CPO OF and levy in April 2024 would be US$ 142/ton.
Budi continued the increasing CPO reference price happened for some factors. “Such as the increasing other vegetable oil prices in China and in the United States of America, price fluctuation of rupiah and Malaysia ringgit towards US dollar, the increasing demands for biodiesel, and decreasing CPO production in Indonesia,” Budi explained.
Besides, palm cooking oil (refined, bleached, and deodorized/RBD palm olein) in branded packages and packaged with net weigh ≤ 25 kilogram would be charged by OF for USD 0/MT and the brands are regulated in the Decision of Minister of Trade Number 417 / 2024 about Brands of Refined, Bleached, and Deodorized (RBD) Palm Olein in Branded Packages and Packaged within Nett Weigh ≤ 25 Kg. (T2)
