InfoSAWIT, JAKARTA – Crude palm oil (CPO) reference price to decided Out Fee and tariff in Public Service Obligation Palm Oil Plantation Fund Management Agency or levy on 16–30 June 2023, was US$ 723,45/ton.

The numbers got cheaper US$ 88,23 or 10,87 percent from those on 1–15 June 2023 which was US$ 811,68/tons. It is written on Decision of Minister of Trade Number 1040 / 2023 about Crude Palm Oil Reference Price that is charged by Out Fee and Tariff in Public Service Obligation Palm Oil Plantation Fund Management Agency on 16–30 June 2023.

General Director of Foreign Trade Ministry of Trade, Budi Santoso said CPO reference price gets cheaper than the threshold which is US$ 680/ton. “Referring to regulation of minister of finance, the government decided CPO OF would be US$ 3/ton and CPO reference price is USD 65/ton on 16—30 June 2023,” he said, as in the official statement to InfoSAWIT, Saturday (17/6/2023).

It refers to Colom Number 3, Attachment Letter C, Regulation of Minister of Finance (RMF) Number 39/PMK/0.10/2022 juncto Number 123/PMK.010/2022 which is USD 3/ton. CPO reference price refers to Attachment Letter C RMF Number 103/PMK.05/2022 juncto Number 154/PMK.05/2022 which is US$ 65/ton.

It means, the total of Out Fee and CPO reference price is US$ 68/ton. The numbers decrease US$ 50/ton compared to those on 1–15 June 2023 which were US$ 118/tons.

Budi thought, the decreasing CPO reference price happens for some factors, such as, the low palm oil demands in the world because of increasing stocks. “Other vegetable oils also get cheaper, such as, soyoil that palm oil exports from Malaysia also decrease, ringgit currency gets cheaper towards US dollar, and the traders worried about the increasing stocks globally from Indonesia and Malaysia,” he said. (T2)