PALMOILMAGAZINE, JAKARTA — Indonesia has set the Reference Price (HR) for crude palm oil (CPO) used to calculate Export Duty (BK) and export levy tariffs for the period 1–28 February 2026 at USD 918.47 per metric ton (MT). The figure represents an increase of USD 2.84, or 0.31%, compared with the January 2026 reference price of USD 915.64/MT.
The reference price serves as the basis for determining export duties and export levies managed by the Plantation Fund Management Agency (BPDP).
Director General of Foreign Trade at the Ministry of Trade, Tommy Andana, said the higher February reference price was driven by stronger seasonal demand that has not been matched by supply growth.
Also Read: Indonesia Sets January 2026 CPO Reference Price at USD 915.64 per MT
“The CPO reference price in February 2026 increased compared with January 2026. This was mainly due to rising demand ahead of Lunar New Year and Ramadan, while supply failed to increase because of declining production,” Tommy said in an official statement, as quoted by Palmoilmagazine.com on Sunday (1/2/2026).
He explained that the price references used to calculate the February HR CPO were based on average prices recorded between 20 December 2025 and 19 January 2026. Three primary benchmarks were used: the Indonesian CPO exchange at USD 855.66/MT, the Malaysian CPO exchange at USD 981.28/MT, and the Rotterdam CPO price at USD 1,209.81/MT.
Under Ministry of Trade Regulation (Permendag) No. 35 of 2025, if the price gap among the three references exceeds USD 40, the HR calculation must use the two prices closest to the median value.
Also Read: Indonesia Cuts December CPO Reference Price by 3.9%, Adjusts Export Tax and Levy
“Accordingly, the reference price was derived from the Indonesian and Malaysian CPO exchanges. Based on this calculation, the February 2026 CPO reference price was set at USD 918.47 per MT,” Tommy said.
For the same period, the CPO Export Duty (BK) is determined under Ministry of Finance Regulation (PMK) No. 38 of 2024 in conjunction with PMK No. 68 of 2025, with the tariff set at USD 74 per MT.
Meanwhile, the CPO export levy, as stipulated in PMK No. 69 of 2025, is fixed at 10% of the HR CPO, resulting in an export levy of USD 91.8472 per MT for February 2026. (P2)
