CPO Price Holds Steady at US$ 1,022.5 per Metric Ton

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Agus Dwi Darmawan 29/01/2023 11:52 WIB

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Crude Palm Oil (CPO) Prices Over the Last Three Months - Data as of January 29, 2023

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CPO Price Holds Steady at US$ 1,022.5 per Metric Ton

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Crude Palm Oil (CPO) Prices Over the Last Three Months - Data as of January 29, 2023

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Crude Palm Oil (CPO) prices on the Rotterdam Spot Market remained steady at US$1,022.5 per metric ton for the past 23 days, as of Sunday, January 29, 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 on the Spot Market today is down 0.73% (year-to-date/YTD). Similarly, year-on-year (YOY), the CPO price has fallen by 22.54%.

Meanwhile, domestically, the CPO price on the Medan spot market reached Rp 15,731 per kg at the close of trading on Friday, January 27, 2023.

In April 2022, the day before the CPO export ban was implemented, the CPO price on the Medan spot market fell to Rp 19,419 per kg on April 27. Between April 28 and May 18, 2022, the CPO price on the Medan spot market fell by 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 address the scarcity and suppress the soaring price of cooking oil in the domestic market. However, this ban did not prove effective in lowering the high price of cooking oil domestically.

In some regions 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.

In areas such as Bali, for example, the most expensive branded cooking oil in Indonesia is sold. In this region, cooking oil is recorded at Rp 23,400 per kg.

Other regions include...

"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."