PALMOILMAGAZINE, JAKARTA — The Indonesian Ministry of Trade has set the Reference Price (Harga Referensi/HR) for crude palm oil (CPO) at USD 877.89 per metric ton (MT) for the July 2025 export levy and duty period. This marks an increase of USD 21.51 or 2.51% compared to the June 2025 reference price of USD 856.38/MT.
This decision is outlined in Minister of Trade Decree No. 1553 of 2025, which stipulates the HR CPO used to determine Export Duty (Bea Keluar/BK) and the Public Service Agency Tariff under the Plantation Fund Management Agency (BLU BPDP), also known as the Export Levy (Pungutan Ekspor/PE). The regulation is effective from July 1 to July 31, 2025.
For July 2025, the Export Duty (BK) is set at USD 52/MT, based on Column 5 of Appendix C in MoF Regulation No. 38/2024. The Export Levy (PE) is 10% of the reference price, amounting to USD 87.79/MT, in line with Appendix I of MoF Regulation No. 30/2025.
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“The current HR CPO has moved further above the threshold of USD 680/MT. Based on the prevailing regulation, the government imposes an export duty of USD 52/MT and a levy of 10% of the reference price,” explained Acting Director General of Foreign Trade, Isy Karim, as quoted by Palmoilmagazine.com from the Ministry’s official website.
The reference price was calculated based on the average CPO prices during May 25 – June 24, 2025:
- Indonesian CPO Exchange: USD 824.90/MT
- Malaysian CPO Exchange: USD 930.88/MT
- Rotterdam Port Price: USD 1,153.57/MT
According to Minister of Trade Regulation No. 46/2022, if the price spread among the three sources exceeds USD 40, the reference price is calculated from the two median values closest to each other. Thus, the HR for July 2025 was based on prices from the Indonesian and Malaysian exchanges, resulting in USD 877.89/MT.
In addition, refined, bleached, and deodorized (RBD) palm olein in branded packaging of 25 kg or less is exempt from export duties, as stated in Minister of Trade Decree No. 1554 of 2025 listing eligible branded products.
Karim added that the HR increase was largely driven by rising demand from India, which was not matched by a corresponding increase in production.
Cocoa Beans Reference Price Drops
In contrast, the Reference Price for cocoa beans in July 2025 was set at USD 9,438.60/MT, down USD 152.92 or 1.59% from the previous month. This led to a decrease in the Export Benchmark Price (HPE) for cocoa beans to USD 8,973/MT, down USD 154 or 1.69% from June 2025.
However, the Export Duty for cocoa beans remains unchanged at 15%, as stipulated in Column 4 of Appendix B in MoF Regulation No. 38/2024.
The decline in cocoa prices was attributed to increased supply from major producers such as Ivory Coast and Nigeria.
The HPE for cocoa beans is regulated under Minister of Trade Decree No. 1552 of 2025 concerning Export Benchmark Prices and Reference Prices for Agricultural and Forestry Products Subject to Export Duty. (P3)
