CPO Price Remains at US$1,145 per Metric Ton

Agus Dwi Darmawan 28/11/2022 11:51 WIB

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Crude Palm Oil (CPO) Prices Over the Last Three Months - Data as of Week of November 13, 2022

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CPO Price Remains at US$1,145 per Metric Ton

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Crude Palm Oil (CPO) Prices Over the Last Three Months - Data as of Week of November 13, 2022

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The price of Crude Palm Oil (CPO) in the Rotterdam Spot Market remained steady at US$1,145 per metric ton for the past nine days, as of Sunday, November 13, 2022. 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 13.26% (year-to-date/YTD). Similarly, year-on-year (YOY), the CPO price has fallen by 17.03%.

Meanwhile, domestically, the price of palm oil in the Medan spot market reached Rp 18,103 per kg at the close of trading on Friday, October 28, 2022.

The easing of the Covid-19 pandemic and the growth of the global economy 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.

Some regions recording high cooking oil prices include Lampung, where it was recorded at Rp 30,150 per kg.

Other regions with the highest national cooking oil prices include parts of Southeast Sulawesi (Rp 26,750 per kg), Maluku (Rp 26,400 per kg), Bengkulu (Rp 26,300 per kg), and 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."