Crude Palm Oil (CPO) Price Falls to US$1,020 per Metric Ton

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Agus Dwi Darmawan 26/07/2024 11:27 WIB

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In this region, cooking oil sales were recorded at a price of Rp 19,900 per kg. In other regions, including parts of Bali, cooking oil sales were observed at a price of Rp 19,050 per kg.

Crude Palm Oil (CPO) Prices Over the Last Three Months - Data as of Tuesday, July 23, 2024

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Crude Palm Oil (CPO) Prices Over the Last Three Months - Data as of Tuesday, July 23, 2024

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Crude Palm Oil (CPO) prices on the Rotterdam Spot Market fell 3.32% to US$1,020 per metric ton on Tuesday, July 23, 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 12.71% year-to-date (YTD). Similarly, on a year-on-year (YOY) basis, CPO prices have increased by 3.03%.

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.

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

In some parts of Indonesia, prices for branded cooking oil remain high. The National Strategic Food Price Information Center (PIHPS) reported that cooking oil prices were still above Rp 20,000 per kg yesterday.

Aceh, for example, recorded the highest sales price for branded cooking oil in Indonesia, at Rp 19,900 per kg.

Other regions, including parts of Bali, saw cooking oil prices at Rp 19,050 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."

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Crude Palm Oil (CPO) Price Falls to US$1,020 per Metric Ton

Crude Palm Oil (CPO) Price Falls to US$1,020 per Metric Ton

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Crude Palm Oil (CPO) Price Falls to US$1,020 per Metric Ton

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