Friday, 29 May 2020 | 02:30 WIB

Benchmark Price for CPO and Cocoa Seeds Rise in December 2019

Benchmark Price for CPO and Cocoa Seeds Rise in December 2019 (sawitindonesia)

JAKARTA, NETRALNEWS.COM - The benchmark price of Crude Palm Oil (CPO) products for the setting of Export Duty for the December 2019 period is set at US$ 650.18 per metric tons (MT). The reference price has increased by $ 79.05, or 13.84 percent from the November 2019 period of $ 571.13/MT. This stipulation is stated in the Indonesia Minister of Trade Regulation Number 88 Year 2019 on the Stipulation of Export Benchmark Prices (HPE) for Agricultural and Forestry Products Subject to Export Levy.

"At the moment, CPO reference prices remain at levels below $ 750/MT. For that reason, the government imposes a CPO export duty of $ 0/MT for the December 2019 period," said Director General of Foreign Trade at the Indonesia Ministry of Trade Indrasari Wisnu Wardhana on Tuesday (12/03/2019).

CPO export duty for December 2019 is listed in Column 1 Attachment II Letter C Minister of Finance Regulation No. 13/PMK.010/2017 in the amount of $ 0/MT. This value is the same as the CPO export duty of $ 0/MT for the November 2019 period.

Meanwhile, the benchmark price of cocoa beans in December 2019 was set at $ 2,527.64/MT, up 1.10 percent or $ 27.48 from the previous month of $ 2,500.16/MT. This resulted in an increase in cocoa beans benchmark price in December 2019 to $ 2,240/MT, up 1.2 percent or $ 27 from $ 2,213/MT in the previous period.

The reference price benchmark price hike for cocoa beans is due to the strengthening of international prices. This decrease has no effect on the cocoa beans export duty which remains at five percent. This is stated in column 2 Attachment II Letter B Regulation of the Minister of Finance No. 13/PMK.010/2017.

Whereas, the benchmark price and export duty of wood products and leather products saw no changes from the previous month period.