CPO Reference Price Up in October 2023, CPO OF and Levy Stay Consistent

Palm Oil Magazine
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PALMOILMAGAZINE, JAKARTA – The reference price for Crude Palm Oil (CPO), which determines the Out Fee (OF) and tariff for the Palm Oil Plantation Fund Management Agency (PFMA), commonly referred to as the levy, for the period of October 1st to 15th, 2023, has been set at US$ 827.37 per metric ton (MT).

This figure reflects an increase of US$ 28.54, equivalent to a 3.57 percent rise, compared to the rates observed from September 16th to 30th, 2023. These updated figures are outlined in the Minister of Trade’s Decision Number 1698/2023, which pertains to the CPO Reference Price utilized for calculating the Out Fee and Tariff under the Public Service Obligation of the Palm Oil Plantation Fund Management Agency.

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Additionally, for palm cooking oil (specifically, refined, bleached, and deodorized/RBD palm olein) packaged in branded containers with a net weight of 25 kilograms or less, there will be no charge, amounting to USD 0 per metric ton (MT).

Also Read : CPO Reference Price Declines, Following are CPO OF and Levy Rates for the period 16 to 30 September 2023

The specific brands subject to this regulation are detailed in the Minister of Trade’s Decision Number 1699/2023, which lists the brands of Refined, Bleached, and Deodorized (RBD) Palm Olein available in branded packages with a net weight of 25 kilograms or less.

“CPO reference price escalates and more than threshold which is US$ 680/MT. that is why according to 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 1—15 October 2023,” General Director of Foreign Trade, Budi Santoso said, as in the official statement to Palmoilmagazine.com, Saturday (30/9/2023).

CPO OF on 1–15 October 2023 refers to Colom number 4, Attachment letter C, RMF Number 39/PMK/0.10/2022 juncto (jo.) Number 71 / 2023 whjch is US$ 33/MT. CPO export levy on 1–15 September 2023 refers to Attachment letter C RMF Number 103/PMK.05/2022 jo. 154/PMK.05/2022 which is US$ 85/MT. In total, CPO OF and levy are the same with the previous period that was US$ 118 per ton.

Budi said, the increasing CPO reference price happened for some factors, such as, the increasing demands which were not the same with the increasing production. “Other vegetable oils got more expensive,” he said. (T2)

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