Crude Palm Oil (CPO) Price Falls to MYR 4,117 per Ton

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Agus Dwi Darmawan 07/07/2024 14:43 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 Thursday, July 4, 2024

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Crude Palm Oil (CPO) Price Falls to MYR 4,117 per Ton

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Crude Palm Oil (CPO) Prices Over the Last Three Months - Data as of Thursday, July 4, 2024

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The price of palm oil on the Malaysian Futures Exchange (FCPOc1) fell by 0.39% to MYR 4.117 per ton on Thursday, July 4, 2024, from the previous day's close. The CPO price had reached its highest level of MYR 4.579 per ton on Wednesday, April 3, 2024.

Compared to the beginning of the year, the CPO price in the Spot Market today is up 13.32% (year to date/ytd). Similarly, year-on-year, the CPO price has increased by 7.92% (year on year/yoy).

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

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

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

Several regions recording high cooking oil prices include East Nusa Tenggara, where the price was recorded at Rp 29,250 per kg.

Other regions with the highest national cooking oil prices are Lampung at Rp 28,850 per kg, parts of Bengkulu at Rp 26,300 per kg, North Maluku at Rp 25,700 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."