Morning, CPO price traded at US$1,010 per metric ton.

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Agus Dwi Darmawan 14/07/2024 11:16 WIB

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The National Center for Strategic Food Price Information (PIHPS) released a report showing that cooking oil prices remained above Rp 20,000 per kg yesterday.

Crude Palm Oil (CPO) Prices Over the Last Three Months Data as of Friday, July 12, 2024

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Morning, CPO price traded at US$1,010 per metric ton.

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Crude Palm Oil (CPO) Prices Over the Last Three Months Data as of Friday, July 12, 2024

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Crude Palm Oil (CPO) prices on the Rotterdam Spot Market fell 0.98% to US$1,010 per metric ton on Friday, July 12, 2024, from the previous day's close. CPO prices had reached a high of US$1,160 per metric ton on Wednesday, April 3, 2024.

Compared to the beginning of the year, CPO prices on the Spot Market today are up 11.6% (year-to-date/YTD). Similarly, on a year-on-year basis (YOY), CPO prices have increased by 8.6%.

Meanwhile, domestically, the spot price of palm oil in Medan reached Rp 15,410 per kg at the close of trading on Wednesday, April 17, 2024.

The easing of the Covid-19 pandemic's impact and the growth of the global economy led to increased commodity demand throughout last year. As a result, CPO prices on the Medan Spot Market had recovered by 38.97% throughout 2021.

In some parts 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.

In East Nusa Tenggara, for example, cooking oil is sold at Rp 29,250 per kg. In Lampung, the price is Rp 29,000 per kg; in parts of Bengkulu, it's Rp 26,300 per kg; in North Maluku, Rp 25,700 per kg; and in South Sulawesi, Rp 23,700 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."