Indonesia ups Mar reference price of crude palm oil 2.2% to $938.87 per tn
This story was originally published at 11:43 IST on 2 March 2026
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MUMBAI – Indonesia has raised the reference price for crude palm oil for March by 2.2% to $938.87 per tonne, various media reports said Saturday. The reference price for February was $918.47 per tonne.
The revised reference price was calculated based on the average price between Jan. 20 and Feb. 19 as recorded at $882.76 per tonne on the Indonesian CPO Exchange, $994.97 per tonne on the Malaysian CPO Exchange, and $1,252.36 per tonne at Rotterdam port.
The reference rate of crude palm oil is used to decide export duties and levies.
"The strengthening of HR CPO is influenced by the increase in demand, especially from major importing countries such as India and China, which is not offset by an increase in supply," the Director General of Foreign Trade at the Ministry of Trade, Tommy Andana, said, as per reports.
"Limited supply occurs due to production declines and increases in the prices of other vegetable oils, namely soybean oil," he said. End
US$1 = INR 91.44
Reported by Abhijit Doshi
Edited by Deepshikha Bhardwaj
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