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CPO Price Rises to US$900 per Metric Ton

Agus Dwi Darmawan 19/06/2023 11:49 WIB

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Crude Palm Oil (CPO) Prices Over the Past Three Months - Data as of Friday, June 16, 2023

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Crude Palm Oil (CPO) Prices Over the Past Three Months - Data as of Friday, June 16, 2023

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Crude Palm Oil (CPO) prices on the Rotterdam Spot Market increased by 1.69% to US$900 per metric ton on Friday, June 16, 2023, from the previous day's closing price. CPO prices had reached their highest level of US$1,065 per metric ton on Monday, January 2, 2023.

Compared to the beginning of the year, CPO prices on the Spot Market today are down 12.62% (year-to-date/YTD). Similarly, on a year-on-year basis (YOY), CPO prices have fallen by 42.31%.

Meanwhile, domestically, the spot price of palm oil in Medan reached Rp 13,846 per kg at the close of trading on Friday, June 16, 2023.

Previously, the government banned the export of cooking oil and CPO on April 28, 2022. This ban caused the CPO price in the Medan spot market to fall by Rp 5,334.04 per kg, or 18.13%, to its lowest point of Rp 24,085.37 per kg on May 20, 2022.

The government then reopened exports on May 23, 2022, and CPO prices began to show an upward trend.

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

Aceh, for example, recorded the highest price for branded cooking oil in Indonesia, at Rp 22,250 per kg. Other regions with similar prices include South Sulawesi (Rp 22,250 per kg), parts of West Kalimantan (Rp 22,250 per kg), South Kalimantan (Rp 22,250 per kg), and Central Kalimantan (Rp 22,250 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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CPO Price Rises to US$900 per Metric Ton

CPO Price Rises to US$900 per Metric Ton

CPO Price Rises to US$900 per Metric Ton

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CPO Price Rises to US$900 per Metric Ton

CPO Price Rises to US$900 per Metric Ton

CPO Price Rises to US$900 per Metric Ton

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