Kompas, 2 March 2019

The government has adjusted the reference price of crude palm oil (CPO) to $595.98 per metric ton, which took effect on March 1. According to the Finance Ministerial Regulation (PMK) No.152/2018 on Service Fee of Indonesian Oil Palm Estate Fund (BPDPKS), BPDPKS will collect $25 export duty per metric ton of CPO if it’s traded at more than $570 per metric ton. However, the government hasn’t yet collected the export duty. Economic Affairs Coordinating Minister Darmin Nasution said palm oil business players will not have to pay for export duty starting from March 1 until further notice.

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