JAKARTA, July 2 (Xinhua) -- The Indonesian government has increased the benchmark price of crude palm oil (CPO) in July by 21.51 U.S. dollars to 877.89 dollars per metric ton, and lowered the reference price for cocoa beans by 152.92 dollars to 9,438.60 dollars per metric ton, the Ministry of Trade said on Wednesday.
The new policy is effective from July 1 to July 31, according to a statement issued by the ministry.
"The increase in the CPO reference price was due to rising demand, especially from India, which was not matched by an increase in production," said Isy Karim, acting director general of foreign trade at the ministry.
The government has imposed an export duty of 52 dollars per metric ton on CPO for the period, Karim said in the statement.
Regarding cocoa beans, the government continues to levy a 15 percent surcharge on exports of the commodity.
"The decline in the cocoa bean reference price was influenced by an increase in supply from major producing countries," Karim added. ■