Indonesia lowers CPO reference price for 1-15 June. Next reference price for 15-30 June expected to be a notch lower | Indo product levy and tax

Indonesia officially announced 1-15 June CPO reference price of US$811.68/ton or lower than the levels for the second half of May of US$893.23/ton. This brings the export duty and levies down by two tiers to $33 and $85/ton respectively from $74/ton and $95/ton previously. The lower Indonesian payable export duty and levy were anticipated by market participants. This would maintain the current Indonesian price discount of US$20-30 relative to Malaysia. The next Indonesia CPO price reference for the period 16-30 June is expected to move lower within the bracket of US$730-780/ton with the applicable export duty of US$18 and levy of US$75 on CPO.