Palmoilmagazine.com, JAKARTA – The reference price for crude palm oil (CPO) used to determine the Out Fee (OF) and tariff for the Public Service Obligation of the Palm Oil Plantation Fund Management Agency (PFMA) or export levy for 16 - 31 May 2023 has been set at US$ 893.23 per metric ton (MT). This represents a decrease of about 6.52% or US$ 62.30 per MT compared to the previous period of 1 - 15 May 2023 when it was US$ 955.53 per MT.
The Decision of the Minister of Trade Number 968/2023 on Crude Palm Oil Reference Price charged on Out Fee and Tariff for Public Service Obligation in Palm Oil Plantation Fund Management Agency on 16 - 31 May 2023 specifies this information.
“CPO reference price gets cheaper and hardly hits the threshold which is USD 680/MT. That is why referring to available regulation of minister of finance (RMF), the government decided CPO OF is USD 74/MT and CPO levy is USD 95/MT on 16 –31 May 2023,” General Director of Foreign Trade Ministry of Trade, Budi Santoso said, as in the official statement Palmoilmagazine.com, Monday (15/5/2023).
CPO OF on 16 – 31 May 2023 refers to Colum number 6 Attachment letter C RMF Number 39/PMK/0.10/2022 juncto Number 123/PMK.010/2022 which is US$ 74/MT. Meanwhile CPO levy in the period refers to Attachment letter C RMF Number 103/PMK.05/2022 juncto Number 154/PMK.05/2022 which is US$ 95/MT. CPO OF and levy get cheaper compared to those on 1 – 15 May 2023. It means, the total in May 2023 would be US$ 169/ton.
Budi Santoso said, the cheaper CPO reference price happened for some factors, such as, India decreased CPO imports in April to June 2023 because sunflower oil gets cheaper, Malaysia got decreasing exports and could indicate that CPO demands decrease globally. “Rupiah gets better toward US dollar,” he said. (T2)