PALMOILMAGAZINE, JAKARTA — Indonesia has set the Reference Price (Harga Referensi/HR) for crude palm oil (CPO) used to determine export duties (Bea Keluar/BK) and the levy collected by the Plantation Fund Management Agency (BPDP) for January 2026 at USD 915.64 per metric ton (MT). The figure represents a decline of USD 10.51, or 1.13%, compared with the December 2025 reference price of USD 926.14/MT.
Acting Director General of Foreign Trade at the Ministry of Trade, Tommy Andana, said the lower reference price was driven by rising palm oil production, particularly in Malaysia, which was not matched by stronger demand, alongside the appreciation of the Malaysian ringgit against the US dollar.
“The January 2026 CPO reference price declined compared with December 2025 due to increased production, especially from Malaysia, amid stagnant demand and a stronger ringgit against the US dollar,” Tommy said, quoted in a statement received by Palmoilmagazine.com on Wednesday (12/31).
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He explained that the CPO reference price was calculated based on average prices recorded between 20 November and 19 December 2025 from three sources: the Indonesian CPO exchange at USD 853.13/MT, the Malaysian CPO exchange at USD 978.14/MT, and the Rotterdam port CPO price at USD 1,187.25/MT.
Under Trade Minister Regulation No. 35 of 2025, if the price difference among the three sources exceeds USD 40, the reference price is calculated using the two prices closest to the median. “Accordingly, the January 2026 reference price was determined using prices from the Malaysian and Indonesian CPO exchanges, resulting in an HR of USD 915.64 per MT,” Tommy said.
Based on the CPO reference price applicable from 1–31 January 2026 and in line with Column 6, Appendix C of Finance Minister Regulation (PMK) No. 38 of 2024 as amended by PMK No. 68 of 2025, the government has set the export duty on CPO at USD 74 per MT.
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Meanwhile, referring to Appendix A of PMK No. 69 of 2025, the export levy (Pungutan Ekspor/PE) on CPO is set at 10% of the reference price for the January 2026 period, amounting to USD 91.5637 per MT.
The determination of the CPO reference price, along with reference prices and export benchmark prices for cocoa beans, leather products, wood products, and pine resin for the January 2026 period, is stipulated in Trade Minister Decree No. 2392 of 2025 on Export Benchmark Prices and Reference Prices for Agricultural and Forestry Products Subject to Export Duties and public service tariffs.
Separately, refined, bleached, and deodorized (RBD) palm olein sold in branded packaging with a net weight of up to 25 kilograms will be subject to an export duty of USD 0 per MT. This provision is set out in Trade Minister Decree No. 2393 of 2025 on the List of Branded RBD Palm Olein Products Packaged at ≤ 25 kg. (P3)
