JAKARTA: Indonesia set its crude palm oil (CPO) reference price at $893.23 per tonne for the period of May 16-31, a trade ministry decree published on Monday showed.

The price is lower than the $955.53 per tonne in May 1-15 period.

Palm oil still targets 3,707 ringgit

The new reference price would place CPO export tax at $74 per tonne and levy at $95, lower from the previous period.