Crude Palm Oil (CPO) Price Falls to US$1,075 per Metric Ton

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Agus Dwi Darmawan 29/06/2024 11:33 WIB

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Crude Palm Oil (CPO) Prices Over the Last Three Months - Data as of Thursday, June 27, 2024

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Crude Palm Oil (CPO) Price Falls to US$1,075 per Metric Ton

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Crude Palm Oil (CPO) Prices Over the Last Three Months - Data as of Thursday, June 27, 2024

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Crude Palm Oil (CPO) prices on the Rotterdam Spot Market fell 0.46% to US$1,075 per metric ton on Thursday, June 27, 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 18.78% (year to date/ytd). Similarly, year-on-year (yoy), CPO prices have increased by 15.59% 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.

Previously, the government banned the export of cooking oil and CPO on April 28, 2022. This ban caused the price of CPO on the Medan spot market to fall by Rp5,334.04 per kg or 18.13% to its lowest point of Rp24,085.37 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.

East Nusa Tenggara, for example, recorded the highest price for branded cooking oil in Indonesia, at Rp 29,250 per kg. Other regions showing high prices include parts of Lampung at Rp 28,850 per kg, Bengkulu at Rp 26,300 per kg, North Maluku at Rp 25,100 per kg, and South Sulawesi at 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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Crude Palm Oil (CPO) Price Falls to US$1,075 per Metric Ton

Crude Palm Oil (CPO) Price Falls to US$1,075 per Metric Ton

Crude Palm Oil (CPO) Price Falls to US$1,075 per Metric Ton

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Crude Palm Oil (CPO) Price Falls to US$1,075 per Metric Ton

Crude Palm Oil (CPO) Price Falls to US$1,075 per Metric Ton

Crude Palm Oil (CPO) Price Falls to US$1,075 per Metric Ton

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