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 levy in May 2024 would be US$ 877,28/metric ton (MT). The numbers escalated US$ 19,67 or 2,29 percent from April 2024 that was US$ 857,62/MT.
“Now CPO reference price got increased and more than the threshold that is US$ 680/MT. referering to regulation of minister of finance, the government decided, CPO OF would be US$ 52/MT and CPO levy would be US$ 90/MT in May 2024,” General Director of Trade Ministry of Trade, Budi Santoso said, as in the official statement to InfoSAWIT, Friday (3/5/2024).
It was written on the Decision of Minister of Trade Number 576 / 2024 about CPO Reference Price that is Charged on Out Fee and tariff on Palm Oil Plantation Fund Management Agency in May 2024. It derived from the average price since on 25 March — 24 April 2024 at Indonesian CPO Exchange that was US$ 847,02/MT, Malaysia Derivatives Exchange that was US$ 907,55/MT, and Rotterdam that was US$ 1.004,75/MT.
Based on the Regulation of Minister of Trade Number 46 / 2022, if the average price difference from the three sources more than i US$ 40, CPO reference price would be calculated by using two sources of price that became the median of the closest price from the media. CPO reference derived price from Malaysia and Indonesia and from the regulation, it would be US$ 877,28/MT.
CPO OF and levy would become US$ 142 per ton or not change from the previous period (April 2024).
Besides, palm oil (refined, bleached, and deodorized/RBD palm olein) in branded packages and packaged with in net weight ≤ 25 kg would be charged by OF which is US$ 0/MT and the brands would be written in the Decision of Minister of Trade Number 577 / 2024 about Lists of Brand of Refined, Bleached, and Deodorized (RBD) Palm Olein in Branded Packages and Packaged within net weight ≤ 25 Kg.
CPO OF in May 2024 refers to Colom Number 5, Attachment letter C, Regulation of Minister of Finance (RMF) Number 39/PMK/0.10/2022 juncto (jo.) Number 71 / 2023 which is US$ 52/MT. CPO levy in May 2024 refers to Attachment letter C, RMF Number 103/PMK.05/2022 jo. 154/PMK.05/2022 which is US$ 90/MT.
Budi continued the increasing CPO OF happened for some factors, such as, the increasing demands as the anticipation when Idul Fitri took place. “While palm oil production in Malaysia and Indonesia got decreasing in numbers because of weather, and the conflicts between Ukraine and Russia, and also Iran and Israel in war. These delivered impacts for crude oil and other vegetable oil price,” he said. (T2)
