CPO Reference Price Rises 3.19%: CPO OF and Levy on 1 – 15 July 2023

Palm Oil Magazine
Doc. Special / Crude palm oil (CPO) and its derivative exports contributed up to 11,59 percent. July 2023 exports compared to June 2023 exports decreased 1,51 percent. YoY they also decreased up to 19,25 percent.

PALMOILMAGAZINE, JAKARTA – The reference price of Crude Palm Oil (CPO) for determining the Out Fee (OF) and tariff on the Public Service Obligation Palm Oil Plantation Fund Management Agency (PFMA), or levy, from 1 to 15 July 2023, is US$ 747.23 per metric ton (MT). This represents an increase of approximately 3.29% compared to the period of 16 to 30 June 2023.

It was written on the Decision of Minister of Trade Number 1125 / 2023 about Crude Palm Oil Reference Price that is Charged on by Out Fee and Tariff on Public Service Obligation Palm Oil Plantation Fund Management Agency.

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Besides, palm cooking oil (refined, bleached, and deodorized/RBD palm olein) in branded and packaged within net weigh ≤25 kg would be charged OF about US$ 0/MT. OF for branded products is regulated in the Decision of Minister of Trade Number 1126 / 2023 about Lists of Brand of Refined, Bleached, and Deodorized (RBD) Palm Olein in Branded Packages and Packaged with net weigh ≤ 25 Kg.

General Director of Foreign Trade Ministry of Trade, Budi Santoso said, CPO reference price increases and much more than the threshold which is US$ 680/MT.

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“That is why referring to available regulation of minister of finance (RMF), the government decided, CPO OF is US$ 18/MT and CPO levy would be US$ 75/MT on 1 — 15 July 2023,” Budi Santoso said, as in the official statement to Palmoilmagazine.com recently.

CPO OF on 1 – 15 July 2023 refers to Colom 3, Attachment letter C, RMF Number 39/PMK/0.10/2022 juncto Number 123/PMK.010/2022 which is US$ 18/MT. Meanwhile, CPO levy on 1 – 15 July 2023 refers to Attachment letter C, RMF Number 103/PMK.05/2022 juncto 154/PMK.05/2022 which is US$ 75/MT. The total of the two (CPO OF and levey) is US$ 93/ton.

Budi thuough, CPO reference price increases for some factors, such as, the worry about CPO production that could decrease because of dry and hot season, and CPO imports in India. (T2)

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