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The government announces changes in the reference prices of CPO and cacao

29 July 2020 10:00

JAKARTA - The Ministry of Trade announced changes in the reference prices of two export commodities, crude palm oil (CPO) and cocoa beans for August 2020. This was conveyed by Srie Agustina, the acting director general of international trade at the Ministry of Trade, related to the Regulation of Minister of Trade (Permendag) No.66 / 2020.

She said that reference price for CPO was set at US$ 656.98 per metric ton (MT) for August 2020, higher than its record in July 2020 of US$ 622.47 per MT. Meanwhile, the reference price for cocoa beans was set at US$ 2,196.66 per MT, lower than its record in July 2020 of US$ 2,369.22 per MT. 

She stated that the decline in cocoa beans price was caused by weakening commodity prices on the international market. "This decline has no impact on the export duty of cocoa beans which remains at 5%," she said. (LK/AR)

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