Indonesia’s CPO reference price on 16-30 April shipment was raised to US$932.69/ton in an announcement made late yesterday. This is US$34.40 higher than the previous period. The higher reference price for the second half of April means the corresponding levy and tax on all palm products will rise. CPO export tax will increase to US$124 from US$74 previously and the levy from US$95 to US$100. RBD palm olein will be taxed at US$71 from US$26 previously, a noticeable US$45 increase and levied at US$80 compared to US$75 in the period 1-15 April. The higher tax and levy on the second half of April export also means, traders will increasingly shift to buying from Malaysia instead and the existing Indonesian CPO export price discount of US$50-90 to Malaysia’s will erode.