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CPO Price Holds Steady at US$972.5 per Metric Ton

Agus Dwi Darmawan 10/04/2023 11:56 WIB

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Crude Palm Oil (CPO) Prices Over the Last Three Months - Data as of Monday, March 27, 2023

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CPO Price Holds Steady at US$972.5 per Metric Ton

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Crude Palm Oil (CPO) Prices Over the Last Three Months - Data as of Monday, March 27, 2023

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The price of Crude Palm Oil (CPO) in the Rotterdam spot market remained stable at US$972.5 per metric ton for the past three days, as of Monday, March 27, 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 5.58% (year-to-date/YTD). Similarly, on a year-on-year basis (YOY), the CPO price has fallen by 43.46%.

Meanwhile, domestically, the price of palm oil in the Medan spot market reached Rp 16,379 per kg at the close of trading on Thursday, April 6, 2023.

In April 2022, the day before the CPO export ban was implemented, the price of palm oil in the Medan spot market fell to Rp 19,419 per kg on April 27. Between April 28 and May 18, 2022, the CPO price in the Medan spot market fell by 10.08% to Rp 26,453.87 per kg.

As is known, starting April 28, 2022, the government banned the export of cooking oil and its raw materials. This policy was implemented to overcome the scarcity and suppress the soaring price of cooking oil in the domestic market. However, this ban has not proven effective in lowering the high price of cooking oil domestically.

In some regions of Indonesia, the price of branded cooking oil remains high. The National Strategic Food Price Information Center (PIHPS) reported that the price of cooking oil yesterday was still above Rp 20,000 per kg.

Some regions recording high cooking oil prices include Lampung, where the price was recorded at Rp 30,600 per kg.

Other regions with the highest cooking oil prices nationally include parts of Central Kalimantan (Rp 27,300 per kg), parts of Maluku (Rp 26,400 per kg), parts of Bengkulu (Rp 26,300 per kg), and Bali (Rp 25,100 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$972.5 per Metric Ton

CPO Price Holds Steady at US$972.5 per Metric Ton

CPO Price Holds Steady at US$972.5 per Metric Ton

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Area of Palm Oil Land Owned by State-Owned Enterprises in West Java, 1996-2010

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Prevalence of Food Consumption Inadequacy in Jepara Decreased by 2.16% in the Last Year

5.15% of Kediri Residents Have Higher Education by the End of 2024

Riau's 2026 Minimum Wage List: Dumai City is the Highest

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CPO Price Holds Steady at US$972.5 per Metric Ton

CPO Price Holds Steady at US$972.5 per Metric Ton

CPO Price Holds Steady at US$972.5 per Metric Ton

Tags

Related Data

Area of Palm Oil Land Owned by State-Owned Enterprises in West Java, 1996-2010

By the end of 2025, the Government will raise the benchmark price for all grades of Indonesian coal.

Waste generation in Tangsel tends to increase until 2024

Prevalence of Food Consumption Inadequacy in Jepara Decreased by 2.16% in the Last Year

5.15% of Kediri Residents Have Higher Education by the End of 2024

Riau's 2026 Minimum Wage List: Dumai City is the Highest

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