InfoSAWIT, JAKARTA — The Indonesian government has set the Reference Price (HR) for crude palm oil (CPO) used as the basis for export duty (BK) and export levy calculations for the period of 1–28 February 2026 at US$918.47 per metric ton (MT). The figure represents an increase of US$2.84 or 0.31% compared to the January 2026 reference price of US$915.64/MT.
The reference price serves as the basis for calculating export duties and export levies managed by the Palm Oil Plantation Fund Management Agency.
Director General of Foreign Trade at the Ministry of Trade, Tommy Andana, said the rise in February’s CPO reference price was driven by seasonal demand growth that was not matched by an increase in supply.
“The February 2026 CPO reference price increased compared to January 2026. This was driven by higher demand in anticipation of Lunar New Year and Ramadan, while supply did not increase due to declining production,” he said in an official statement as published by InfoSAWIT on Sunday (1/2/2026).
Tommy explained that the reference price calculation was based on the average CPO prices recorded between 20 December 2025 and 19 January 2026. The calculation used three main price sources: the Indonesian CPO exchange at US$855.66/MT, the Malaysian CPO exchange at US$981.28/MT, and CPO prices at the Rotterdam port at US$1,209.81/MT.
Referring to Ministry of Trade Regulation (Permendag) No. 35 of 2025, when the price gap among the three sources exceeds US$40, the reference price is calculated using the two sources closest to the median value.
“Accordingly, the reference price was derived from the Indonesian and Malaysian CPO exchanges, resulting in a CPO reference price of US$918.47 per MT,” he said.
Based on Ministry of Finance Regulation No. 38 of 2024 in conjunction with Regulation No. 68 of 2025, the export duty for CPO for the February 2026 period was set at US$74 per MT.
Meanwhile, under Ministry of Finance Regulation No. 69 of 2025, the CPO export levy was set at 10% of the reference price, bringing the levy amount to US$91.8472 per MT. (T2)
