Flash News
infosawit

CPO RP Decreased 11,2 Percent: CPO OF and Levy Would Be US$ 93 per Ton in June



Doc. InfoSAWIT
CPO RP Decreased 11,2 Percent: CPO OF and Levy Would Be US$ 93 per Ton in June

InfoSAWIT, JAKARTA – Crude palm oil (CPO) reference price (RP) to decide out fee (OF) and tariff on Public Service Obligation Palm Oil Plantation Fund Management Agency (PFMA) or known as export levy in June 2024 would be US$ 778,82/metric ton (MT). The numbers got cheaper US$ 98,46 or 11,22 percent from May 2024 thtt was US$ 877,28/MT.

“CPO RP got decreased and almost reached the threshold, US$ 680/MT. That is why, according to the available regulation of minister of finance, the government decided that CPO OF would be US$ 18/MT and export levy would be US$ 75/MT in June 2024,” General Director of Foreign Trade Ministry of Trade, Budi Santoso said, as in the official statement to InfoSAWIT, Saturday (1/6/2024).

It means, CPO levy and OF would be US$ 93/ton or got cheaper about US$ 49 per ton to the previous period in May 2024 that was US$ 142 per ton.

It was written on the Decision of Minister of Trade Number 662 / 2024 about Crude Palm Oil Reference Price that is charged on Out Fee and Service Tarif of Public Service Obligation Palm Oil Plantation Fund Management Agency (PFMA) in June 2024. CPO RP derived from the average price since on 25 April — 24 May 2024 at Indonesian CPO Exchange that was US$ 735,03/MT, Malaysia Derivatives Exchange that was US$ 822,61/MT, and CPO Rotterdam Exchange that was US$ 923,53/MT.

According to the Regulation of Minister of Trade Number 46 / 2022, if there are average price differences more than US$ 40, CPO RP should be using the average price from two sources of price that became the median and the closest price from the median. Based on the regulation, CPO RP derived from Malaysia Derivatives Exchange and Indonesia CPO Exchange. Based on the calculation, CPO RP would be US$ 778,82/MT.

Besides, palm cooking oil (refined, bleached, and deodorized/RBD palm olein) in branded packs and packed with net ≤ 25 kg would be charged by OF - US$ 0/MT and the brands are written on the Decision of Minister of Trade Number 663 / 2024 about Lists of Brand of Refined, Bleached, and Deodorized (RBD) Palm Olein in Branded Packs and Packed with net ≤ 25Kg.

CPO OF on 1 June 2024—30 June 2024 would refer to Colom 3, Attachment Letter C, Regulation of Minister of Finance Number 39/PMK/0.10/2022 juncto (jo) Number 71 / 2023 that is US$ 18/MT. while CPO levy in June 2024 would refer to Attachment Letter C, Regulation of Minister of Finace Number 103/PMK.05/2022 jo. 154/PMK.05/2022 which is US$ 75/MT.

“The cheaper CPO RP happened for the cheaper soyoil price and crude oil in the world, and the increasing production which was not balanced with the increasing demands,” Budi said. (T2)


READ MORE ON GOOGLE NEWS.