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Crude Palm Oil (CPO) Price Remains at US$ 1,125 per Metric Ton

Agus Dwi Darmawan 30/08/2022 15:30 WIB

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Crude Palm Oil (CPO) Prices Over the Last Three Months - Data as of Tuesday, August 30, 2022

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Crude Palm Oil (CPO) Price Remains at US$ 1,125 per Metric Ton

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Crude Palm Oil (CPO) Prices Over the Last Three Months - Data as of Tuesday, August 30, 2022

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Crude Palm Oil (CPO) prices on the Rotterdam Spot Market remained stable at US$1,125 per metric ton for the past seven days, as of Tuesday, August 30, 2022. The CPO price reached its highest level of US$2,010 per metric ton on Wednesday, March 9, 2022.

Compared to the beginning of the year, the CPO price on the Spot Market today is down 14.77% (year-to-date/YTD). Similarly, on a year-on-year basis (YOY), the CPO price has fallen by 8.16%.

Meanwhile, domestically, the CPO price on the Medan Spot Market reached Rp 17,019 per kg at the close of trading on Monday, August 29, 2022.

In April 2022, the day before the CPO export ban was implemented, the CPO price on the Medan Spot Market fell to Rp 19,419 per kg on April 27. Between April 28 and May 18, 2022, the CPO price on the Medan Spot Market fell by 10.08% to Rp 26,453.87 per kg.

As is known, starting April 28, 2022, the government banned the export of cooking oil and its raw materials. This policy was implemented to address the scarcity and suppress the soaring price of cooking oil in the domestic market. However, this ban has not proven effective in lowering the high price of cooking oil domestically.

In some regions of Indonesia, the price of branded cooking oil remains high. The National Strategic Food Price Information Center (PIHPS) reported that cooking oil prices were still above Rp 20,000 per kg yesterday.

Lampung, for example, recorded the highest price for branded cooking oil in Indonesia, at Rp 31,050 per kg.

Other regions include Southeast Sulawesi, where cooking oil is sold at Rp 28,000 per kg; parts of West Papua, where it is sold at Rp 26,450 per kg; Bengkulu, at Rp 26,300 per kg; and parts of Papua, at Rp 26,250 per kg.

"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 Remains at US$ 1,125 per Metric Ton

Crude Palm Oil (CPO) Price Remains at US$ 1,125 per Metric Ton

Crude Palm Oil (CPO) Price Remains at US$ 1,125 per Metric Ton

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Crude Palm Oil (CPO) Price Remains at US$ 1,125 per Metric Ton

Crude Palm Oil (CPO) Price Remains at US$ 1,125 per Metric Ton

Crude Palm Oil (CPO) Price Remains at US$ 1,125 per Metric Ton

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