Palmoilmagazine, JAKARTA – Crude palm oil (CPO) reference price to decide Out Fee (OF) on 1 – 15 October 2022 is US$ 792,19/metric ton (MT). The numbers get cheaper 6,4% or US$ 54,13 compared to it on 16—30 September 2022.
This has something to do with CPO OF on 1 — 15 October 2022 to be US$ 33/MT, based on Colom 4 Attachment C in the Regulation of Minister of Finance Number 123/PMK.010/2022. CPO reference price is also written in the Decision of Minister of Trade Number 1371 / 2022 about CPO Reference Price that Has Out Fee and Public Service Obligation of Palm Oil Plantation Fund Management Agency.
Besides, palm cooking oil (Refined, Bleached, And Deodorized/RBD Palm Olein) in package within about 25 kg would have no Out Fee or US$ 0/MT based on the regulation in the Decision of Minister of Trade Number 1373 / 2022 about Brand Lists of Refined, Bleached, And Deodorized (RBD) Palm Olein in branded package and package within about 25 kg.
“Now CPO reference price gets cheaper and almost the same with the threshold, US$ 680/MT. That is why the government decided CPO OF would be US$ 33/MT on 1 — 15 October 2022,” General Director in duty of Foreign Trade Ministry of Trade, Veri Anggrijono, as in the official statement to Palmoilmagazine, Sunday (2/10/2022).
Veri thought, the decreasing CPO reference price happened for some factors, such as, the increasing CPO production in Indonesia and Malaysia, the decreasing ringgit and rupiah toward US dollar. “And vegetable oil incentive policy (soybean oil) from the competitor countries,” he said. (T2)
