Palmoilmagazine, Jakarta – The reference price (HR) for crude palm oil (CPO) for February 2025 has been set at US$ 955.44 per metric ton (MT), marking a decline of US$ 104.10 or 9.82% compared to January 2025’s reference price of US$ 1,059.54 per MT.
This decision is outlined in the Minister of Trade Decree No. 123 of 2025, which regulates the export duty (BK) and the levy imposed by the Palm Oil Plantation Fund Management Agency (BLU BPDP-KS), commonly known as the Export Levy (PE).
Acting Director General of Foreign Trade at the Ministry of Trade, Isy Karim, explained that the CPO export duty for February 2025 refers to Column 7, Appendix C of Minister of Finance Regulation (PMK) No. 38 of 2024, setting it at US$ 124 per MT. Meanwhile, the export levy is set at 7.5% of the reference price, amounting to US$ 71.66 per MT, based on Appendix I of PMK No. 62 of 2024. This brings the total duty and levy to US$ 195.66 per ton.
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“The current reference price is approaching the threshold of US$ 680 per MT. As per the applicable regulations, the government has set an export duty of US$ 124 per MT and an export levy of 7.5% for February 2025,” said Isy Karim in an official statement received by Palmoilmagazine.com on Saturday (1/2/2025).
The reference price is determined based on the average price from December 25, 2024, to January 24, 2025, across major markets:
- Indonesia CPO Exchange: US$ 867.83 per MT
- Malaysia CPO Exchange: US$ 1,043.05 per MT
- Rotterdam CPO Auction: US$ 1,253.90 per MT
According to Minister of Trade Regulation No. 46 of 2022, if there is a price discrepancy of more than US$ 40 between sources, the reference price is based on the median of the two closest price sources, which in this case are the Indonesia and Malaysia CPO exchanges.
Additionally, for branded refined, bleached, and deodorized (RBD) palm olein in packaging ≤ 25 kg, the export duty is set at US$ 31 per MT, as stipulated in Minister of Trade Decree No. 124 of 2025.
The decline in the reference price is attributed to several factors, including weaker demand from India and falling prices of other vegetable oils, such as soybean and rapeseed oil. These conditions may influence CPO trade dynamics in the coming months. (P2)
