# Indonesia sets May 16-31 crude palm oil reference price at $893.23/t - Markets - Business Recorder

> Indonesia set its crude palm oil reference price at $893.23 per tonne for May 16-31, down from $955.53 for May 1-15. The new price sets the CPO export tax at $74 per tonne and the levy at $95 per tonne.

- Date: 2023-05-15 · published 2023-05-15T12:00:00.000Z
- Category: policy · region Indonesia · magnitude low
- Page: https://feedsoft.ai/events/15733-indonesia-sets-may-16-31-crude-palm-oil-reference-price-at-893-23-t-markets
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

The lower reference price cuts Indonesia's export tax and makes its palm oil more competitive in export markets. This adds supply pressure on global palm oil prices.

## Read by commodity

- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2022-08-02 | [Palm drops 5% for second day as Indonesia cuts reference price - Markets - Business Recorder](https://feedsoft.ai/events/40139-palm-drops-5-for-second-day-as-indonesia-cuts-reference-price-markets-business.md) | -1.3% | +0.7% |
| PALMOIL | 2023-05-31 | [Indonesia sets June 1-15 crude palm oil reference price at $811.68](https://feedsoft.ai/events/7321-indonesia-sets-june-1-15-crude-palm-oil-reference-price-at-811-68.md) | -7.4% | -2.2% |
| PALMOIL | 2024-06-12 | [Malaysia keeps July crude palm oil export duty at 8% - Markets - Business Recorder](https://feedsoft.ai/events/15637-malaysia-keeps-july-crude-palm-oil-export-duty-at-8-markets-business-recorder.md) | -0.3% | +0.8% |
| PALMOIL | 2025-01-02 | [Palm oil ends lower after news on Indonesia’s B40 delay - Markets - Business Recorder](https://feedsoft.ai/events/5046-palm-oil-ends-lower-after-news-on-indonesia-s-b40-delay-markets-business.md) | -10.6% | -10.3% |
| PALMOIL | 2026-08-21 | [Indonesia expects palm oil export levy collection to jump about 31pc - Markets - Business Recorder](https://feedsoft.ai/events/15447-indonesia-expects-palm-oil-export-levy-collection-to-jump-about-31pc-markets.md) | -0.4% | +2.1% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40242187

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.