PALMOILMAGAZINE, JAKARTA — The Indonesian government has set the Reference Price (Harga Referensi/HR) for crude palm oil (CPO) used to determine the Export Levy (Bea Keluar/BK) and Export Duty (Pungutan Ekspor/PE) for the November 2025 period at US$963.75 per metric ton (MT). This marks a slight increase of US$0.14 or 0.01% compared to the October 2025 HR, which stood at US$963.61/MT.
Acting Director General of Foreign Trade at the Ministry of Trade, Tommy Andana, explained that the modest increase was driven by expectations of stronger demand from Malaysia, the anticipated implementation of the B50 biodiesel program, and firmer prices of other vegetable oils such as soybean oil.
“The CPO reference price for November 2025 rose slightly from the previous month, supported by positive market fundamentals—particularly on the demand side and from substitute oil prices,” Tommy stated in a press release received by Palmoilmagazine.com on Friday (Oct 31, 2025).
Based on Ministry of Finance Regulation (PMK) No. 38/2024 in conjunction with PMK No. 68/2025, the government set the CPO Export Levy (BK) at US$124/MT and the Export Duty (PE) at 10% of the CPO reference price, or US$96.37/MT, for the period of November 1–30, 2025.
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The export levy value refers to Column 7, Appendix C of PMK No. 38/2024 in conjunction with PMK No. 68/2025, while the export duty is determined according to Appendix A of PMK No. 69/2025.
Tommy further noted that the reference price was calculated based on the average CPO prices recorded between September 20 and October 19, 2025, from three main sources: the Indonesia CPO Exchange (US$887.73/MT), the Malaysia CPO Exchange (US$1,039.76/MT), and Rotterdam Port CPO Price (US$1,247.67/MT).
According to Ministry of Trade Regulation (Permendag) No. 35/2025, if there is a price gap exceeding US$40 among the three sources, the HR calculation uses the average of the two prices closest to the median.
“Considering this calculation method, the CPO reference price was determined at US$963.75/MT, derived from the prices on the Malaysia and Indonesia exchanges,” Tommy explained.
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In addition to CPO, the government also set the export levy for branded refined, bleached, and deodorized (RBD) palm olein products in retail packaging of up to 25 kilograms at US$31/MT.
This provision is stipulated in Minister of Trade Decree (Kepmendag) No. 2140/2025 on the List of Branded RBD Palm Olein Products in Packaged Form with a Net Weight of ≤25 kg. (P2)
