InfoSAWIT, JAKARTA – Crude palm oil (CPO) reference price (RP) to get out fee (OF) and tariff from Public Service Obligation Plm Oil Plantation Fund Management Agency (PO PFMA) or levy in November 2024 would be US$ 961,97/metric ton (MT). The numbers got increased US$ 68,32 or 7,65 percent from October 2024 that was US$ 893,64/MT.
It was written in the Decision of Minister of Trade Number 1532 / 2024 about Crude Palm Oil Reference Price that is charged on Out Fee and Tariff on Public Service Obligation Palm Oil Plantation Fund Management Agency.
CPO OF in November 2024 refers to Colom Number 7, Attachment Letter C, Regulation of Minister of Finance (RMF) Number 38 / 2024 which is US$ 124/MT. CPO Levy refers to Attachment I RMF Number 62 / 2024, 7,5 percent which is US$ 72,1475/MT.
“CPO RP gets increased and more than the threshold that is US$ 680/MT. Referring to RMF, the government decided CPO OF would be US$ 124/MT and CPO levy would be 7,5 percent from CPO PR in November 2024 which is US$ 72,1475/MT,” General Director of Foreign Trade Ministry of Trade, Isy Karim said in the official statement, as InfoSAWIT quoted,Thursday (31/1/2024).
Isy said that CPO PR was decided from the average price on 25 September—24 October 2024 in three exchanges, they were Indonesia CPO Exchange that was US$ 904,60/MT, Malaysia Derivatives Exchange that was US$ 1.019,33/MT, and CPO Rotterdam that was US$ 1.153,64/MT. Based on the Regulation of Minister of Trade) Number 46 / 2022, if the average price difference from the three exchanges was more than US$ 40, CPO RP would be calculated from the two sources that became the media. The closest sources from the median were Malaysia Derivatives Exchange and Indonesia CPO Exchange. CPO RP would be US$ 961,97/MT.
“The increasing CPO RP happened for some factors, such as, the demands from India and China. But the global scale – production got decreased because of long dry season. Besides, the increasing crude oil price in the world and tariff in Malaysia that has been implemented since 1 October 2024 did increase CPO RP,” Isy said.
Besides, palm cooking oil (refined, bleached, and deodorized/RBD palm olein) in branded packages and packaged with net ≤ 25 kg would be charged in OF for US$ 31/MT. The brands were written in the Decision of Minister of Trade Number 1533 / 2024 about the Brand Lists of Refined, Bleached, and Deodorized (RBD) Palm Olein in Branded Packages and Packaged with the net ≤ 25 Kg. (T2)
