Indonesia raised the benchmark price of CPO in November

Indonesia will raise the benchmark price of crude palm oil (CPO) in November to $961.97 per tonne from $893.64 in October, Reuters reported on Wednesday, citing trade ministry spokesman Farid Amir.

The new price sets the export duty for November at $124 per ton.

Indonesia also charges an additional fee of 7.5% of the base price for CPO exports, duty on refined products ranges from 3% to 6% of the base price.

Earlier it became known, Malaysia raised the export duty on CPO for the first time in three years to 9.5%.

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Tags: Indonesia, prices, palm oil