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Indonesia puts fresh benchmark prices for CPO, cocoa
(MENAFN) Indonesia has announced new benchmark prices for August, increasing the rate for crude palm oil (CPO) and reducing it for cocoa beans, according to government sources.
The updated reference price for CPO has risen by $33.02 to $910.91 per metric ton, due to growing demand without a corresponding rise in supply, said a senior trade official.
For August, the export duty for CPO has been fixed at $74 per metric ton, with a 10 percent export levy based on the updated price.
In contrast, the cocoa bean reference price was reduced by $1,203.90, bringing it down to $8,234.70 per metric ton. As a result, the export benchmark for cocoa was also decreased by $1,169 to $7,804 per metric ton.
The updated reference price for CPO has risen by $33.02 to $910.91 per metric ton, due to growing demand without a corresponding rise in supply, said a senior trade official.
For August, the export duty for CPO has been fixed at $74 per metric ton, with a 10 percent export levy based on the updated price.
In contrast, the cocoa bean reference price was reduced by $1,203.90, bringing it down to $8,234.70 per metric ton. As a result, the export benchmark for cocoa was also decreased by $1,169 to $7,804 per metric ton.
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