Global Demand and Geopolitics Drive Rise in CPO Prices
Jakarta (ANTARA) - The Ministry of Trade (Kemendag) has set the reference price (HR) for the crude palm oil (CPO) commodity for export duty (BK) and export levy (PE) for the period 1-30 April 2026 at $989.63 per metric ton (MT).
Director General of Foreign Trade at Kemendag, Tommy Andana, stated that the HR has increased by $50.76 or 5.41% from the March period, which was recorded at $938.87 per MT, one of the factors being the geopolitical situation.
“This increase is due to an increase in demand not accompanied by an increase in supply due to a decline in production, as well as an increase in crude oil prices due to the geopolitical situation in the Middle East,” said Tommy in a statement in Jakarta on Wednesday.
Accordingly, the CPO BK for the 1-30 April 2026 period is set at $148 per MT, referring to “Column 8 of Attachment Letter C of Minister of Finance Regulation (PMK) Number 38 of 2024 jo. PMK Number 68 of 2025”.
Then, the CPO PE is $123.7035 per MT or 12.5% of the CPO HR for the 1-30 April 2026 period, referring to “Attachment Letter A of PMK Number 69 of 2025 jo. PMK Number 9 of 2026”.
Tommy said the source of the price for determining the CPO HR was obtained from the average price over the period 20 February 2026-19 March 2026. During that period, the average reference price on the Indonesian CPO Exchange was $896.94 per MT, on the Malaysian CPO Exchange $1,082.31 per MT, and the Port CPO Rotterdam price $1,319.84 per MT.
Based on Minister of Trade Regulation (Permendag) Number 35 of 2025, if there is a difference in average prices from the three price sources of more than $40, then the CPO HR calculation uses the average of the two price sources that are the median and the price source closest to the median.
In addition, branded packaged cooking oil products (Refined, Bleached, and Deodorized/RBD palm olein) packaged with a net weight of less than or equal to (≤) 25 kilograms (kg) are subject to a BK of $33 per MT.
The determination of brands is listed in “Minister of Trade Decision (Kepmendag) Number 561 of 2026 on the List of Brands of Refined, Bleached, and Deodorized (RBD) Palm Olein in Branded Packaging with Net Weight ≤ 25 Kg”.