Sat, 26 Jan 2008
Jakarta (ANTARA News) - The Indonesian Trade Ministry raised Friday the export reference price (HPE) of crude palm oil for February to US$944 per metric ton from US$869 per metric ton a month earlier after the CPO price in Rotterdam hit a record high of US$1,000 per metric ton.

The ministry recorded the average CPO prices in Rotterdam this month which served as a reference to set the HPE for February was US$1,020 per metric ton, Minister Mari Elka Pangestu said.

Data from the Commodity Futures Exchange Supervisory Board (BAPPEBTI) show the CPO price in Rotterdam on January 2 was US$990 per metric ton and rose to US$1,012.5 per metric ton two days later.

The CPO price hit a record high of US$1,135 per metric ton on January 15 and continued to hover above US$1,060 per metric ton until January 25.

HPE serves as a reference to set export tariffs. Under the regulation on progressive export tariffs, the export tariff on CPO for February remains at 10 percent, which is the upper limit.

The ministry also raised the HPE of oil palm fruit and kernel for February to US$450 per metric ton from US$440 per metric ton in January.

The HPE of crude olein for February increased to US$983 per metric ton from US$906 per metric ton while the HPE of crude stearin for February rose to US%909 per metric ton from US$848 per metric ton in January.

The HPE of crude palm kernel oil, crude kernel stearin and crude kernel olein were raised respectively to US$1,100 per metric ton in February from US$1,056 per metric ton in January.

The HPE of RBD palm olein rose to US$996 per metric ton from US$917 per metric ton, of RBD palm kernel olein to US$1,156 per metric ton from US$1,018 per metric ton, of RBD palm kernel stearin to US$1,381 per metric ton from US$1,323 per metric ton.

The HPE of RBD palm stearin increased to US$926 per metric ton from US$860 per metric ton, of RBD palm kernel oil to US$1,153 per metric ton from US$1,089 per metric ton, and of RBD palm oil to US$986 per metric ton from US$909 per metric ton. (*)



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