Palm oil prices on the Malaysian Futures Exchange (FCPOc1) fell 1.1% to MYR 4.514 per ton on Monday, April 8, 2024, from the previous day's close. CPO prices reached their highest level of MYR 4.579 per ton on Wednesday, April 3, 2024.
Compared to the beginning of the year, CPO prices in the Spot Market today are up 24.25% (year-to-date/YTD). Similarly, compared to the same period last year, CPO prices have fallen 32.44% year-on-year (YOY).
Meanwhile, domestically, palm oil prices in the Medan spot market reached Rp 13,530 per kg at the close of trading on Friday, December 15, 2023.
Compared to the position on December 31, 2021, the CPO price in the Medan Spot Market as of May 30, 2022, had increased by Rp 5,988.55 per kg, or has experienced a -20.76% increase year-to-date (YTD) as of today.
In some parts of Indonesia, prices for brand 2 cooking oil remain high. The National Strategic Food Price Information Center (PIHPS) reported that cooking oil prices yesterday were still above Rp 20,000 per kg.
In Lampung, for example, cooking oil is sold at Rp 30,950 per kg. In East Nusa Tenggara, it is recorded at Rp 28,950 per kg, in Maluku at Rp 26,550 per kg, in parts of Bengkulu at Rp 26,300 per kg, and in parts of North Maluku at Rp 25,700 per kg.