CPO Reference Price Drops to $767.51/Ton with OF and Levy at $93/Ton

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CPO Port. Photo by: palmoilmagazine.com

PALMOILMAGAZINE, JAKARTA – The reference price (RP) for crude palm oil (CPO), determining the Out Fee and export levy in the Palm Oil Plantation Fund Management Agency (PFMA) from December 16 to 31, 2023, has decreased to $767.51/metric ton (MT).

This marks a reduction of $27.63 or 3.47% from the $795.14/MT recorded in the first half of December 2023.

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“CPO RP has declined and is now close to the threshold of $680/MT. As per the Minister of Finance Regulation (RMA), the government has set the CPO Out Fee (OF) at $18/MT and the CPO levy at $75/MT for the second half of December 2023,” stated Budi Santoso, General Director of Foreign Trade at the Ministry of Trade, in an official statement to Palmoilmagazine.com on Friday (15/12/2023).

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

He also mentioned the cheaper CPO OF happened for some factors, such as, the increasing CPO production in the world which was not the same with the demands (decreasing demands) that might happen from India and China, and decreasing imports in European Union. It also happened for other vegetable oils and crude oil got cheaper in the world.

According to RMA Number 39/PMK/0.10/2022 juncto (jo.) Number 71 / 2023, CPO OF on 16-31 December 2023 is written in the column number three, attachment letter c, which is US$ 18/MT.

Also Read : 

According to RMA Number 103/PMK.05/2022 jo. Number 154/PMK.05/2022, CPO levy on 16-31 December 2023 is written in column number three attachment letter C which is US$ 75/MT.

It means CPO OF and levy reached US$ 93/MT, they decrease compared to on 1–15 December 2023 which was US$ 118/MT. (T2)

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