InfoSAWIT, JAKARTA – The government has set the Reference Price (HR) for crude palm oil (Crude Palm Oil/CPO) as the basis for Export Duty (Bea Keluar/BK) and the Public Service Agency tariff of the Oil Palm Plantation Fund Management Agency (BLU BPDP), or Export Levy (Pungutan Ekspor/PE), for the period of March 1–31, 2026 at US$ 938.87 per metric ton (MT).
The figure marks an increase of 2.22 percent, or US$ 20.40, compared to the February 1–28, 2026 period, when the HR stood at US$ 918.47 per MT.
Director General of Foreign Trade at the Ministry of Trade, Tommy Andana, stated that the higher CPO HR for March 2026 has implications for the export charges imposed by the government.
“The CPO HR for the March 2026 period has increased compared to the previous period. Referring to the prevailing Minister of Finance Regulations (PMK), the government imposes a CPO export duty of US$ 124 per MT, as well as an export levy of 10 percent of the March 2026 CPO HR, amounting to US$ 93.8869 per MT,” he said in a written statement received by InfoSAWIT on Saturday (February 28, 2026).
The CPO export duty for March 2026 refers to Column 7, Attachment C of Minister of Finance Regulation (PMK) No. 38/2024 in conjunction with PMK No. 68/2025. Meanwhile, the export levy refers to Attachment A of PMK No. 69/2025.
HR Calculation Based on Two Median Sources
The CPO HR was calculated based on the average prices recorded during the January 20–February 19, 2026 period from three main references: the Indonesia CPO Exchange at US$ 882.76 per MT, the Malaysia CPO Exchange at US$ 994.97 per MT, and the Rotterdam CPO price at US$ 1,252.36 per MT.
In accordance with Minister of Trade Regulation (Permendag) No. 35/2025, if the price gap among the three sources exceeds US$ 40, the CPO HR is determined using the two price sources closest to the median.
“Thus, the HR is derived from the Malaysia CPO Exchange and the Indonesia CPO Exchange. Based on this calculation, the CPO HR is set at US$ 938.87 per MT,” Tommy explained.
RBD Palm Olein ≤25 Kg Subject to US$ 31 Export Duty
Meanwhile, for downstream products, branded cooking oil (Refined, Bleached, and Deodorized/RBD palm olein) in packaging with a net weight of ≤25 kilograms is subject to an export duty of US$ 31 per MT.
This provision is stipulated in Minister of Trade Decree (Kepmendag) No. 374/2025 concerning the List of Branded RBD Palm Olein Packed in Net Weight ≤25 Kg.
Tommy added that the increase in the CPO HR was driven by rising demand from major importing countries such as India and China, which was not matched by an increase in global supply.
“The stronger CPO HR is influenced by higher demand, particularly from major importers such as India and China, which has not been offset by increased supply. Limited supply is due to declining production and rising prices of other vegetable oils, namely soybean oil,” he said.
The determination of the CPO HR, along with the HR and Export Benchmark Prices (HPE) for cocoa beans, leather products, wood products, and pine resin, is stipulated in Minister of Trade Decree No. 373/2026 concerning Export Benchmark Prices and Reference Prices for Agricultural and Forestry Products Subject to Export Duty and BLU service tariffs. (T2)
