A representative of the economic coordinating Ministry said Indonesia intends to increase its reference price for crude palm oil from $898.29 per tonne in the first half of the month to $932.69 per tonne for the period of April 1630.
The pricing would increase Indonesia’s crude palm oil export tax from its existing rate of $80 per tonne to $124 per tonne for the duration of the time.
The decree that specified the reference price has not yet been made public. With production down and stockpiles down, the fundamentals for palm oil are favorable.
