Indonesia Sets Lower August Reference Price for Crude Palm Oil

The Indonesian government has set its August reference price for crude palm oil (CPO) at $996.52 per metric ton, down 0.44% from July. This decrease in price will result in a lower export duty on CPO, which is the country's key agricultural commodity.

According to Tommy Andana, Director General of Foreign Trade at the ministry, the reference price was calculated based on the average CPO prices recorded between June 20 and July 19, 2026. The government used the two market prices closest to the median value, which were from the Indonesian and Malaysian exchanges.

The August reference price is lower than the previous month due to weaker global demand, particularly from India, one of the world's largest palm oil importers. Lower international crude oil prices also weighed on CPO prices during the reference period, Andana added.