InfoSAWIT, JAKARTA – Crude palm oil (CPO) reference price used to determine out fee (OF) and tariff on Palm Oil Plantation Fund Management Agency (PFMA) that is famously known as export duty in the first period of December 2023 would be US$ 795,14/metric ton (MT). The numbers escalated US$ 44,60 or 5,94 percent from on 16 - 30 November 2023 that was US$ 750,54/MT.
It was regulated in the Decision of Minister of Trade Number 1965 / 2023 about Crude Palm Oil Price Reference that is charged by Out Fee and Tariff on Public Service Obligation on Palm Oil Plantation Fund Management Agency in the first period (1 - 15 December 2023).
Besides, palm cooking oil (refined, bleached, and deodorized/RBD palm olein) in branded packages and packed within net weigh ≤ 25 kg would get OF charge US$ 0/MT, as it is regulated in the Decision of Minister of Trade Number 1966 / 2023 about Lists of Brands of Refined, Bleached, and Deodorized (RBD) Palm Olein in Branded Packages and Packed within Net Weigh ≤ 25 Kg.
“CPO reference price is more than threshold which is US$ 680/MT. That is why referring to the available regulation, the government decided CPO OF would be US$ 33/MT and CPO export duty would be US$ 85/MT on 1 - 15 December 2023,” ujar General Director of Foreign Trade Ministry of Trade, Budi Santoso said, as in the official statement to InfoSAWIT, Saturday (2/12/2023).
CPO OF on 1 - 15 December 2023 refers to Colom 4, Attachment Letter C, Regulation of Minister of Finance (RMF) Number 39/PMK/0.10/2022 that was substituted by Number 71 / 2023 which is US$ 33/MT. Meanwhile CPO export duty in the same period refers to Attachment Letter C RMF Number 103/PMK.05/2022 that has been substituted by Number 154/PMK.05/2022 which is US$ 85/MT. It means, CPO OF and export duty reach US$ 118/MT.
"The increasing CPO reference price happened for some factors, such as, the increasing demands that were imbalance with the decreasing CPO production in Malaysia and Indonesia, the decreasing Malaysian ringgit towards US dollar, and increasing other vegetable oils, such as, soyoil,” Budi said. (T2)
