Morning, CPO price traded at US$ 1,010 per metric ton.

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Agus Dwi Darmawan 13/07/2024 11:41 WIB

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The National Strategic Food Price Information Center (PIHPS) reports that cooking oil prices monitored yesterday remained above Rp 20,000 per kg.

Crude Palm Oil (CPO) Prices Over the Last Three Months - Data as of Friday, July 12, 2024

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Morning, CPO price traded at US$ 1,010 per metric ton.

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Crude Palm Oil (CPO) Prices Over the Last Three Months - Data as of Friday, July 12, 2024

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Crude Palm Oil (CPO) prices on the Rotterdam Spot Market fell 0.98% to US$1,010 per metric ton on Friday, July 12, 2024, from the previous day's closing price. CPO prices had reached their highest level of US$1,160 per metric ton on Wednesday, April 3, 2024.

Compared to the beginning of the year, CPO prices on the Spot Market today are up 11.6% (year to date/ytd). Similarly, year-on-year (yoy), CPO prices have increased by 8.6% compared to the same period.

Meanwhile, domestically, the price of palm oil on the Medan spot market reached Rp 15,410 per kg at the close of trading on Wednesday, April 17, 2024.

In April 2022, the day before the CPO export ban was implemented, the price of palm oil on the Medan spot market fell to Rp 19,419 per kg on April 27. Meanwhile, from April 28 to May 18, 2022, CPO prices on the Medan spot market fell 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 did not prove to be effective in lowering the high price of cooking oil domestically.

In some parts of Indonesia, the price of branded cooking oil remains high. The National Strategic Food Price Information Center (PIHPS) released a monitoring report showing that cooking oil prices yesterday were still above Rp 20,000 per kg.

In East Nusa Tenggara, for example, cooking oil is sold at Rp 29,250 per kg. In Lampung, it is sold at Rp 29,000 per kg; in Bengkulu, Rp 26,300 per kg; in North Maluku, Rp 25,700 per kg; and in South Sulawesi, Rp 23,700 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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Morning, CPO price traded at US$ 1,010 per metric ton.

Morning, CPO price traded at US$ 1,010 per metric ton.

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Morning, CPO price traded at US$ 1,010 per metric ton.

Morning, CPO price traded at US$ 1,010 per metric ton.

Tags

Related Data

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20.04 Thousand Jayawijaya Regency Residents are Junior High School Graduates by End of 2024

Ministry of Environment and Forestry Finds 150 Hotspots in Indonesia, Most in North Maluku (Friday, December 5, 2025)

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