CPO Price Holds Steady at US$1,027.5 per Metric Ton

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Agus Dwi Darmawan 27/05/2023 11:59 WIB

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Crude Palm Oil (CPO) Prices Over the Last Three Months - Data as of Friday, May 12, 2023

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CPO Price Holds Steady at US$1,027.5 per Metric Ton

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Crude Palm Oil (CPO) Prices Over the Last Three Months - Data as of Friday, May 12, 2023

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The price of Crude Palm Oil (CPO) in the Rotterdam Spot Market remained steady at US$1,027.5 per metric ton for the past 44 days, as of Friday, May 12, 2023. The CPO price reached its highest level of US$1,065 per metric ton on Monday, January 2, 2023.

Compared to the beginning of the year, the CPO price in the Spot Market today is down 0.24% (year-to-date/YTD). Similarly, year-on-year (YOY), the CPO price has fallen by 37.73%.

Meanwhile, domestically, the CPO price in the Medan spot market reached Rp 12,211 per kg at the close of trading on Friday, May 26, 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, 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.

Some regions recording high cooking oil prices include North Maluku, where prices reached Rp 25,050 per kg. Other regions with the highest national cooking oil prices include parts of Bali (Rp 23,850 per kg), parts of East Kalimantan (Rp 22,350 per kg), parts of Gorontalo (Rp 21,900 per kg), and West Papua (Rp 21,600 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 Holds Steady at US$1,027.5 per Metric Ton

CPO Price Holds Steady at US$1,027.5 per Metric Ton

CPO Price Holds Steady at US$1,027.5 per Metric Ton

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CPO Price Holds Steady at US$1,027.5 per Metric Ton

CPO Price Holds Steady at US$1,027.5 per Metric Ton

CPO Price Holds Steady at US$1,027.5 per Metric Ton

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