PALMOILMAGAZINE, JAKARTA – The Crude palm oil (CPO) reference price for determining the out fee (OF) and export levy by the Palm Oil Plantation Fund Management Agency (PFMA) for the period of September 16-30, 2023, has been set at US$ 798.83 per metric ton (MT).
This figure represents a reduction of US$ 6.37 or 0.79 percent compared to the price from September 1-15, 2023, which was US$ 805.20 per MT.
This information is detailed in the Decision of Minister of Trade Number 1666/2023 regarding the Crude Palm Oil Reference Price for Levy and Tariff Calculation for the Public Service Obligation of the Palm Oil Plantation Fund Management Agency for the period of September 16-30, 2023.
Also Read : CPO Reference Price Rises 3.19%: CPO OF and Levy on 1 – 15 July 2023
“Now CPO reference price is close to the threshold which is USD 680/MT. According to the regulation of minister of finance (RMF), the government decided that CPO OF would be US$ 33/MT and CPO levy would be US$ 85/MT on 16 – 30 September 2023,” General Director of Foreign Trade Ministry of Trade, Budi Santoso said, as in the official statement to Palmoilmagazine.com, Friday (15/9/2023).
CPO OF on 16 – 30 September 2023 refers to Colom number 4, Attachment letter C, RMF Number 39/PMK/0.10/2022 juncto (jo.) Number 71 / 2023 which is US$ 33/MT. CPO levy in the same period refers to Attachment letter C, RMF Number 103/PMK.05/2022 jo. Number 154/PMK.05/2022 which is US$ 85/MT. CPO OF and levy are still the same as they were on 1–15 September 2023.
Budi thought the decreasing CPO OF happens for some factors, such as, the slow economic progress in China and the estimation of increasing palm oil production in Malaysia by the late of August 2023. “The other factor is that the cheaper other vegetable oils, such as, soyoil and sunflower oil,” he said. (T2)
