CPO Price Remains at US$ 1,385 per Metric Ton

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Agus Dwi Darmawan 28/06/2022 12:01 WIB

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Crude Palm Oil (CPO) Prices Over the Last Three Months - Data as of Thursday, June 23, 2022

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CPO Price Remains at US$ 1,385 per Metric Ton

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Crude Palm Oil (CPO) Prices Over the Last Three Months - Data as of Thursday, June 23, 2022

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Crude Palm Oil (CPO) prices on the Rotterdam Spot Market remained steady at US$1,385 per metric ton on Thursday, June 23, 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 on the Spot Market today is up 4.92% (year-to-date/YTD). Similarly, year-on-year (YOY), the CPO price has increased by 37.13%.

Meanwhile, domestically, the palm oil price on the Medan Spot Market reached Rp 22,366 per kg at the close of trading on Friday, June 24, 2022.

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

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.

Some regions recording high cooking oil prices include Gorontalo, where prices reached Rp 30,700 per kg.

Other regions with the highest national cooking oil prices include West Papua at Rp 29,000 per kg, East Kalimantan at Rp 27,150 per kg, West Kalimantan at Rp 26,950 per kg, and parts of Bali at Rp 26,450 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."