CPO Price Period 16-30 September 2022 Down 8.96 Percent

Illustration (Photo: Doc. Antara)

JAKARTA - The Ministry of Trade (Kemendag) said the reference price for palm oil products or crude palm oil (CPO) for the determination of outage duties (BK) for the period 16 to 30 September 2022 was 846.32 dollars per meter. ton (MT).

This price decreased by 929.66 per MT from the previous September 1-15 period.

This determination is stated in the Decree of the Minister of Trade Number 1340 of 2022 concerning the Reference Price of Crude Palm Oil which is worn by Customs and Service Tariffs of the Public Service Agency of the Palm Oil Plantation Fund Management Agency for the period 16 to 30 September 2022.

"Currently, the CPO reference price has decreased, but it is still far from the threshold of 680 dollars per MT. For this reason, the government imposed a CPO BK of 52 dollars per MT for the period from 16 to 30 September 2022," said Plt. Director General of Foreign Trade Veri Anggrijono, in an official statement, Friday, September 16.

BK CPO for the period 16 to 30 September 2022 refers to Colam 5 of Attachment Letter C of the Minister of Finance Regulation Number 123/PMK.010/2022 for 52 dollars per MT.

This value has changed from BK CPO for the period 1 to 5 September 2022.

Veri said, the decrease in CPO reference prices was influenced by several factors, including the decline in the price of other vegetable oils, especially soybean oil.

"Then there was a lot of CPO supplies, as well as a decrease in the ringgit exchange rate against the Serika dollar," he said.

For your information, based on data from the Central Statistics Agency (BPS), the export performance of crude palm oil or CPO commodities on August 20, 2022 has increased.

This is influenced by the increase in export volume amid falling prices in the global market.

Pascape opened the CPO export ban at the end of last May, CPO exports continued to increase. As in June as much as 1.76 million tons.

BPS records in July 2022, Indonesia managed to send CPOs to various destination countries with a volume of 2.16 million tons.

Meanwhile, in August it reached 3.6 million tons, up 1.44 million tons from July.