Crude Palm Oil (CPO) Price Remains at US$997.5 per Metric Ton

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Agus Dwi Darmawan 13/01/2023 11:52 WIB

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Crude Palm Oil (CPO) Prices Over the Last Three Months - Data as of January 1st, 2023

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Crude Palm Oil (CPO) Price Remains at US$997.5 per Metric Ton

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Crude Palm Oil (CPO) Prices Over the Last Three Months - Data as of January 1st, 2023

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The price of Crude Palm Oil (CPO) in the Rotterdam Spot Market remained stable at US$997.5 per metric ton for the past 11 days, as of Sunday, January 1, 2023. 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 in the Spot Market today is down 24.43% (year-to-date/YTD). Similarly, on a year-on-year basis (YOY), the CPO price has fallen by 22.67%.

Meanwhile, domestically, the price of palm oil in the Medan spot market reached Rp 16,702 per kg at the close of trading on Friday, December 30, 2022.

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, the CPO price in the Medan Spot Market 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.

For example, in Lampung, cooking oil is sold at Rp 30,600 per kg. In North Maluku, it's Rp 29,950 per kg; in Maluku, Rp 26,400 per kg; in parts of Bengkulu, Rp 26,300 per kg; and in Central Kalimantan, Rp 25,900 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."