Ministry of Trade: August CPO Reference Price Drops Due to Sluggish Demand
The Ministry of Trade has established the reference price (HR) for crude palm oil (CPO) for the determination of export duties (BK) and export levies (PE) for the period of 1–31 August 2026 at $996.52 per metric tonne (MT).
Tommy Andana, Director General of Foreign Trade at the Ministry of Trade, stated that this reference price represents a decrease of $4.38, or 0.44 per cent, compared to the CPO reference price for the 1–31 July 2026 period, which stood at $1,000.90 per MT. In line with this decrease, the CPO export duty for the 1–31 August 2026 period has been set at $148 per MT.
“The decrease in the CPO reference price for the August 2026 period was influenced by weakening global demand, particularly from India as a major CPO importer, as well as the decline in global crude oil prices,” Tommy said in a statement in Jakarta on Saturday.
This determination is in accordance with Column Figure 8, Appendix Letter C of the Minister of Finance Regulation (PMK) Number 38 of 2024, as amended by PMK Number 68 of 2025. Meanwhile, the CPO export levy rate refers to Appendix Letter A of PMK Number 69 of 2025, as amended by PMK Number 9 of 2026, which is 12.5 per cent of the CPO reference price, equivalent to $124.56 per MT.
The determination of the CPO reference price is based on the average prices during the period of 20 June to 19 July 2026, which were $892.96 per MT on the Indonesia CPO Exchange, $1,100.08 per MT on the Malaysia CPO Exchange, and $1,509.09 per MT at the Rotterdam CPO port price. Consequently, the CPO reference price for 1–31 August 2026 refers to the average price of the Malaysia CPO Exchange and the Indonesia CPO Exchange, resulting in the set price of $996.52 per MT.
In addition to CPO, edible oil products in the form of refined, bleached, and deodorised (RBD) palm olein in branded packaging with a net weight of no more than 25 kilograms are subject to an export duty of $33 per MT. This determination refers to the Decree of the Minister of Trade (Kepmendag) Number 1668 of 2026 regarding the List of Branded and Packaged Refined, Bleached, and Deodorised (RBD) Palm Olein with a Net Weight of at Most 25 Kilograms.