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CPO Reference Price in October Would be US$ 893,64 per Ton, CPO OF Would be US$ 74 per Ton and CPO Levy Would be 7,5 percent



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CPO Reference Price in October Would be US$ 893,64 per Ton, CPO OF Would be US$ 74 per Ton and CPO Levy Would be 7,5 percent

InfoSAWIT, JAKARTA – Crude palm oil (CPO) reference rice to decide out fee (OF) and tariff from Palm Oil Plantation Fund Management Agency (PO PFMA) or known as export levy on 1—31 October 2024 would be US$ 893,64/metric ton (MT). The numbers got increased US$ 54,11 or 6,45 percent from September 2024 that was US$ 839,53/MT.

It is written in the Decision of Minister of Trade Number 1330 / 2024 about Crude Palm Oil Reference Price that would be charged on Out Fee and Tariff on Public Service Obligation Palm Oil Plantation Fund Management Agency on 1—31 October 2024.

“Now CPO reference price gets increased and more than the threshold that is US$ 680/MT. according to the available regulation of minister of finance (RMF), the government decided CPO OF would be US$ 74/MT and CPO export levy would be 7,5 percent from CPO reference price which is US$ 67,0232/MT on 1—31 October 2024,” General Director of Foreign Trade, Ministry of Trade, Isy Karim said, as in the official statement to InfoSAWIT, Wednesday (2/10/2024).

CPO OF on 1—31 October 2024 would refer to Colom Number 6, Attachment Letter C, RMF Number 38 / 2024 which is US$ 74/MT. CPO export levey on 1—31 October 2024 would refer to Attachment Letter I, RMF Number 62 / 2024 which is 7,5 percent from CPO reference price in October 2024 which is US$ 67,0232/MT.

The sources to decide CPO reference price wwere from the average prices on 25 August — 24 September 2024 from some reference, such as, Indonesia CPO Exchange, which was US$ 857,25/MT; Malaysia Derivatives Exchange which was US$ 930,03/MT; and CPO Rotterdam which was US$ 1.040,70/MT. Based on the Regulation of Minister of Trade Number 46 / 2022, if the average price difference from the three sources more than US$ 40, CPO reference price would be calcuolated by using from the average of two sources as the median and the near sources from the median were Malaysia Derivatives Exchange and Indonesia CPO Exchange. Based on the calculation, CPO reference price would be US$ 893,64/MT.

“The increasing CPO reference price happened for the sincreasing demands, namely from India and China, which were not the same with the increasing production. On the other hand, the decreasing production happened for the long drought season,” Isy explained.

Meanwhile, palm cooking oil (refined, bleached, and deodorized/RBD palm olein) in branded packages with the net ≤ 25 kg would be charged by OF about US$ 0/MT. the brands of the production were written in the Decision of Minister of Trade Number 1331 / 2024 about the Brand Lists of RBD Palm Olein in Branded Packages and Packed with the net ≤ 25 Kg. (T2)


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