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Crude Palm Oil (CPO) Price Falls to US$977.5 per Metric Ton

Agus Dwi Darmawan 18/05/2024 11:43 WIB

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Crude Palm Oil (CPO) Prices Over the Past Three Months. Data as of Wednesday, May 15, 2024

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Crude Palm Oil (CPO) Price Falls to US$977.5 per Metric Ton

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Crude Palm Oil (CPO) Prices Over the Past Three Months. Data as of Wednesday, May 15, 2024

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Crude Palm Oil (CPO) prices on the Rotterdam Spot Market fell 0.26% to US$977.5 per metric ton on Wednesday, May 15, 2024, from the previous day's close. CPO prices had reached a high 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 8.01% (year-to-date/YTD). Similarly, on a year-on-year basis (YOY), CPO prices have increased by 3.99%.

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

Previously, the government banned the export of cooking oil and CPO on April 28, 2022. This ban caused the CPO price on 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 Lampung, where prices reached Rp 30,950 per kg.

Other regions with the highest national cooking oil prices include parts of East Nusa Tenggara (Rp 28,900 per kg), parts of Maluku (Rp 26,550 per kg), Bengkulu (Rp 26,300 per kg), and North Maluku (Rp 25,700 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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Crude Palm Oil (CPO) Price Falls to US$977.5 per Metric Ton

Crude Palm Oil (CPO) Price Falls to US$977.5 per Metric Ton

Crude Palm Oil (CPO) Price Falls to US$977.5 per Metric Ton

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Crude Palm Oil (CPO) Price Falls to US$977.5 per Metric Ton

Crude Palm Oil (CPO) Price Falls to US$977.5 per Metric Ton

Crude Palm Oil (CPO) Price Falls to US$977.5 per Metric Ton

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