CPO Reference Price Rises, Export Duty Stays US$124 per MT

The Ministry of Trade reported that the reference price for crude palm oil (CPO) rose to US$963.71 per metric ton in November 2025, while the export duty remained at US$124 per ton. At the same time, the reference price for cocoa beans fell 14.53% to US$6,374.8 per ton.

The CPO reference price is derived from the average of three major markets—Indonesia, Malaysia and Rotterdam—and increased due to higher demand expectations from Malaysia, the B50 program, and rising soybean oil prices. Export duties for CPO are set under Ministerial Regulation (PMK) No 38/2024‑68/2025, and the cocoa export duty was reduced to 7.5 % for beans priced above US$3,500 per ton. The same regulation also introduced a 25 % export duty on pine resin.

A steady CPO duty provides certainty for exporters, while the lower cocoa duty may reduce export costs. The new pine resin duty adds a cost burden for its producers. These measures aim to cushion global price volatility and support downstream processing.