JAKARTA – The Ministry of Trade of the Republic of Indonesia has set the reference price (HR) for crude palm oil (CPO) for the February 2025 period at USD 955.44 per metric ton (MT) through Trade Minister Regulation (Permendag) Number 38 of 2024.

This marks a 9.82% decrease compared to the CPO reference price in January 2025, which was recorded at USD 1,059.54 per MT.

The decline in the CPO reference price has impacted the determination of the CPO Export Duty (BK), which remains at USD 124 per MT, while the Export Tax (PE) for CPO is set at 7.5%, equivalent to USD 71.66 per MT.

Lower CPO prices are attributed to several factors, including weakening demand from key buyers such as India, and falling prices of other vegetable oils, such as soybean oil.

However, the reference price for cocoa beans saw an increase of 5.24%, reaching USD 11,102.84 per MT in February 2025. This rise also boosted the Cocoa Export Benchmark Price (HPE) to USD 10,600 per MT, although the Cocoa Export Duty (BK) remained at 15%.

The increase in cocoa prices is driven by rising global demand, particularly from European and American countries, while cocoa production in West Africa, one of the largest producers, remains stagnant.

Overall, while CPO prices have seen a significant decline, the cocoa commodity is showing a positive trend. (DK/ZH)