Govt sets new CPO prices

JAKARTA (JP): The Ministry of Industry and Trade announced on Monday the new reference prices used to calculate the payment of export taxes on crude palm oil (CPO) and its by-products.

The new reference price of CPO was set at US$430 per metric ton, a drop from $535. The new reference price of oil palm kernel is $90 per ton, refined bleached deodorized (RBD) palm oil is $435 per ton, crude palm olein is $445 per ton and RBD palm olein is $460 per ton.

The reference price of RBD palm olein in branded packages up to 5 kilograms was set at $520 per ton, while the reference price for crude palm stearin was established at $300 per ton. The new reference price for RBD palm stearin is $340 per ton, crude palm kernel oil is $435 per ton, RBD palm kernel oil is $460 per ton, crude coconuts oil is $440 per ton and RBD coconut oil is $470 per ton.

The ministry said the new reference prices would be effective from March 1 to March 31. (gis)