The Group does not receive the cif Rotterdam price when selling its output, rather it tenders CPO for sale based on a ‘mill-gate’ price. This will be lower, to take account of freight and insurance charges, but also to allow for export taxes and levies imposed by the Indonesian government. These apply based on graduated scales, therefore resulting in wider gaps between Rotterdam and mill-gate prices at higher CPO prices.
The daily cif Rotterdam price is reflected in the chart below and the Group publishes the average mill-gate price achieved as part of its financial reporting.
Oil price chart
Crude palm oil (“CPO”) price in US Dollars per tonne cif Rotterdam, close 22.02.2023.
Source: Oil World (www.oilworld.biz)
Strategy
Our principal activity is the production of certified sustainable crude palm oil.
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