Crude Palm Oil (CPO) Price Hits US$2,000 Per Ton on the Rotterdam Commodity Exchange

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Viva Budy Kusnandar 10/03/2022 18:20 WIB

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Palm oil prices traded at US$2,010 per ton on Wednesday (March 9) on the Rotterdam Commodity Exchange.

Crude Palm Oil (CPO) Price Movement (January 3 - March 9, 2022)

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Crude Palm Oil (CPO) Price Movement (January 3 - March 9, 2022)

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Crude Palm Oil (CPO) traded at US$ 2,010 per ton on Wednesday (March 9, 2022) on the Rotterdam Commodity Exchange.

This price is up 10.14% from the previous closing price of US$ 1,825 per ton. It is also the highest price to date.

The Russia-Ukraine war has raised concerns about a global shortage of vegetable oil supplies. Ukraine is a major producer of sunflower oil. The war will disrupt sunflower oil supplies to Europe and other regions.

Disruptions to sunflower oil supplies will impact global CPO demand. This is what caused palm oil prices to surge after the Russian invasion of Ukraine.

Before Russia's attack on Ukraine, the CPO price on the Rotterdam spot market was at US$ 1,640 per ton (February 23, 2022). However, the CPO price has now jumped 22.56%.

Compared to the end of last year, when it was at US$ 1,305 per ton, the palm oil price has soared by 54% (Year to Date/YTD). Similarly, compared to March 9, 2021, the CPO price has jumped by more than 80% (Year on Year/YoY).

The increase in CPO prices has also impacted cooking oil prices in Indonesia. Cooking oil prices in various regions are above Rp 20,000 per liter. Cooking oil is even scarce in the market.

Editor : Annissa Mutia

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Crude Palm Oil (CPO) Price Hits US$2,000 Per Ton on the Rotterdam Commodity Exchange

Crude Palm Oil (CPO) Price Hits US$2,000 Per Ton on the Rotterdam Commodity Exchange

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Crude Palm Oil (CPO) Price Hits US$2,000 Per Ton on the Rotterdam Commodity Exchange

Crude Palm Oil (CPO) Price Hits US$2,000 Per Ton on the Rotterdam Commodity Exchange

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