CPO Price Holds Steady at US$945 per Metric Ton

Agus Dwi Darmawan 11/03/2023 12:04 WIB

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Crude Palm Oil (CPO) Prices Over the Last Three Months - Data as of Monday, February 6, 2023

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CPO Price Holds Steady at US$945 per Metric Ton

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Crude Palm Oil (CPO) Prices Over the Last Three Months - Data as of Monday, February 6, 2023

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The price of Crude Palm Oil (CPO) in the Rotterdam spot market remained stable at US$945 per metric ton for the past three days, as of Monday, February 6, 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 8.25% (year-to-date/YTD). Similarly, year-on-year (YOY), the CPO price has fallen by 33.68% compared to the same period.

Meanwhile, domestically, the price of palm oil in the Medan spot market reached Rp 15,980 per kg at the close of trading on Friday, March 10, 2023.

Previously, the government banned the export of cooking oil and CPO on April 28, 2022. This ban caused the CPO price in 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.

For example, in Lampung, cooking oil is sold at Rp 30,600 per kg. In Central Kalimantan, it's sold at Rp 27,300 per kg; in Maluku, Rp 26,400 per kg; in Bengkulu, Rp 26,300 per kg; and in North Maluku, Rp 25,050 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."