Indonesia CPO export reference price was calculated at US$1365.99/ton for December shipment compared to US$ 1283.38/ton in November according to a statement released by the Trade Ministry today. The rise was within market expectation.
This means the export tax and levy will remain unchanged from November at the top rate of US$375 on CPO, US$248 on RBD palm olein and US$420 on CPKO exports.
The reference price is issued monthly by the government via the trade ministry and is based on a weighted average of Bursa Malaysia CPO close, Indonesia’s ICDX settlement and Rotterdam cash export prices from 21st to 20th of every month.
Malaysia will enjoy an extended window of opportunity for CPO exports in December on price advantage.