Indonesia cut its crude palm oil reference price by 6.07 percent to $978.90 per metric ton for November 2026, the Ministry of Trade said. The reduction is a decline of $63.25 per ton from the October reference price of $1,042.15.
The government also set the crude palm oil export duty at $124 per metric ton for November. The export levy is 12.5 percent of the reference price, or $122.36 per metric ton. Cocoa beans received a similar cut.
Cocoa and other export settings
The cocoa bean reference price fell 7.33 percent to $5,613.60 per ton. The cocoa export duty and export levy are both 7.5 percent for November, according to the ministry’s regulations. Cocoa export reference prices also fell, the Ministry of Trade said.
Packaged refined, bleached and deodorised palm olein carries a $31 per ton export duty, the regulations show. Those rules apply to packages of up to 25 kilograms net.
How the price was set
The palm oil reference price was calculated from average prices between September 20 and October 19, 2026. Director General of Foreign Trade Tommy Andana said the fall reflected the applicable Ministry of Finance regulation. Under the trade ministry’s rules, when the three price sources differ by more than $40, the government uses the two sources closest to the median. Here, Indonesian and Malaysian exchange prices were used.
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Andana attributed the cocoa decline to larger stocks after the West African harvest season. Cocoa prices were also weighed by logistics costs and world trade conditions, he said.
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Source: Ministry of Trade
