JAKARTA, Indonesia– After taking into account various recommendations, the Indonesian Ministry of Trade has determined the reference price for CPO for the stipulation of the Export Duty (Bea Keluar/BK) for the period of June 2016, which has been set at USD 751.55/MT on Thursday (26/5).
This is a USD 2.55 or 0.34% drop from the BK of May 2016 at USD 754.10/MT.
This determination of the reference price is written in the Minister of Trade Regulation Number 38/M-DAG/PER/5/2016 concerning the Determination of Export Benchmark Price (HPE) for Dutiable Agriculture and Forestry Products.
“The HPE and reference price for the period of June 2016 was determined after taking into consideration the development of commodity prices, both nationally and internationally,” said the Acting Director General of Foreign Trade, Karyanto Suprih (26/5).
The Export Duty of CPO in June 2016, written in in Column 2 of the appendix of Minister of Finance Regulation 136 Year 2015, unchanged or the same as the Export Duty of CPO in the period of May 2016 at USD 3/MT.
“Although the current CPO reference price has dropped, it remains above the threshold for imposition of export duty set at the level of USD 750, making the government impose a USD 3/MT export duty on CPO for the period of June 2016,” said Karyanto.
Meanwhile, the reference price of cocoa beans in June 2016 has increased by USD 146.16 or 4.95%, namely from USD 2,950.11/MT to USD 3,096.26/MT.
This has an impact on the determination of the Export Benchmark Price of cocoa beans, which also experienced an increase, namely by USD 143 or 5.4% from USD 2,651/MT in May to USD 2,794/MT.
The increase in the reference price and HPE of cocoa beans was caused by the increase of international prices for said commodity.
Nevertheless, the Export Duty for cocoa beans remains unchanged from the previous month, namely at 10%. This is written in appendix II of the Minister of Finance Regulation 75 Year 2012.
As for the HPE and BK of wood products and leather products, they remain the same as the previous month.
