Іndonesia raises palm oil reference price
Indonesia has set its palm oil reference price at US$806.40 (RM3,814) per metric tonne for Feb 1-29, an increase from US$774.93, a trade ministry decree showed on Wednesday.
The CPO export tax and levy will be US$33 per ton and US$85 per tonne, respectively.
The trade ministry also stated that Indonesia’s palm oil reference price will be set monthly, instead of twice a month starting in February.
The decision was made to provide certainty for businesses, especially exporters, and makes it easier for logistics, Budi Santoso, a director general of foreign trade, said.
Indonesia, the world’s top palm oil exporter, started to set its reference price every two weeks in 2022, amid global scarcity of vegetable oil and to quickly adjust its palm oil prices to volatile global prices.
Read also
Join agri leaders of the Black Sea & Danube region at the 22 International Co...
China is buying up Brazilian soybeans in case of a trade war with the US
Jordan purchased 60 thousand tons of wheat
Improved crop condition in the US and accelerated harvest in Australia and Argenti...
Prices for soybean oil in Chicago rose sharply after Trump’s statement, whic...
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon