The Trade Ministry has issued a crude palm oil (CPO) reference price for November 2018 of US$578.34 per metric ton (MT). The reference price, which is to be used for export tariff pricing, was down US$24 or 3.98% from October 2018 price of US$602.34/MT.
“Currently, CPO price has weakened and reached below US$750/MT level. In that case, the government has imposed a zero CPO export tariff for November 2018,” Trade Ministry’s International Trade Director General Oke Nurwan in a press statement received on Wednesday, (31/10/2018).
The export tariff for CPO was stipulated in Trade Ministerial Regulation No. 89/2018 on the export reference price for agriculture and forestry products that are subject to export tariffs. The CPO export tariff for November 2018 is stated on first column of 2nd attachment, letter C of Finance Ministry Regulation No. 13/PMK.010/2017 and is set at US$0/MT which is exactly the same as October 2018 of US$0/MT. **