PALMOILMAGAZINE, JAKARTA — The Reference Price for crude palm oil (CPO) commodities in the context of determining export duties (BK) and tariffs for the Public Service Agency for the Management of Palm Oil Plantation Funds (BLU BPDP-KS), or better known as Export Levy (PE), in the period 1-15 November 2023 is USD 748.93 per metric ton.
This figure increased by USD 8.26 or 1.11 percent compared to the CPO Reference Price for the period 16-31 October 2023, which was previously USD 740.67 per metric ton.
This determination is stipulated in the Decree of the Minister of Trade Number 1831 of 2023 concerning the Reference Price of Crude Palm Oil used to determine the Export Duty and General Service Tariff of the Palm Oil Plantation Fund Management Agency for the period November 1-15, 2023.
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In addition, cooking oil (refined, bleached, and deodorized/RBD palm olein) in branded packaging and packaged with a net weight of ≤ 25 kg is subject to BK USD 0/MT with brand designation as stated in Decree of the Minister of Trade Number 1832 of 2023 concerning List of Brands of Refined, Bleached, and Deodorized (RBD) Palm Olein in Branded Packaging and Packaged with a Net Weight of ≤ 25 Kg.
Director General of Foreign Trade of the Ministry of Trade Budi Santoso said, Currently the CPO Reference Price is increasing which is moving away from the threshold of USD 680/MT. “Referring to the current PMK, the government imposes a CPO export duty of USD 18/MT and a CPO Export Levy of USD 75/MT for the period November 1-15, 2023,” Budi said, as quoted Palmoilmagazine.com.
The CPO export duty for the period of November 1-15, 2023 refers to Column Number 3 of Appendix Letter C of Minister of Finance Regulation Number 39/PMK/0.10/2022 jo. Number 71 of 2023 amounting to USD 18/MT.
Meanwhile, the CPO Export Levy for the period of October 16-31, 2023 refers to Appendix Letter C of the Minister of Finance Regulation Number 103/PMK.05/2022 jo. 154/PMK.05/2022 amounting to USD 75/MT.
The increase in CPO HR was influenced by several factors, including an increase in demand, especially from China, the weakening of the Ringgit against the USD, and an increase in world crude oil prices. (A3)
