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Crude Palm Oil (CPO) Price Falls to US$1,490 per Metric Ton

Agus Dwi Darmawan 22/06/2022 17:22 WIB

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Crude Palm Oil (CPO) Prices Over the Last Three Months - Data as of Wednesday, June 22, 2022

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Crude Palm Oil (CPO) Price Falls to US$1,490 per Metric Ton

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Crude Palm Oil (CPO) Prices Over the Last Three Months - Data as of Wednesday, June 22, 2022

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Crude Palm Oil (CPO) prices on the Rotterdam spot market fell 4.33% to US$1,490 per metric ton on Wednesday, June 22, 2022, from the previous day's close. CPO prices had reached a high of US$2,010 per metric ton on Wednesday, March 9, 2022.

Compared to the beginning of the year, CPO prices on the spot market today are up 12.88% (year-to-date/YTD). Similarly, year-on-year (YOY), CPO prices have increased by 47.52%.

Meanwhile, domestically, the spot price of palm oil in Medan reached Rp 22,976 per kg at the close of trading on Tuesday, June 21, 2022.

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

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 yesterday were still above Rp 20,000 per kg.

For example, in Gorontalo, cooking oil is sold for Rp 30,700 per kg. In West Papua, the price is Rp 28,500 per kg; in East Kalimantan, Rp 27,500 per kg; in parts of Bali, Rp 26,450 per kg; and in parts of West Kalimantan, Rp 26,300 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$1,490 per Metric Ton

Crude Palm Oil (CPO) Price Falls to US$1,490 per Metric Ton

Crude Palm Oil (CPO) Price Falls to US$1,490 per Metric Ton

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Crude Palm Oil (CPO) Price Falls to US$1,490 per Metric Ton

Crude Palm Oil (CPO) Price Falls to US$1,490 per Metric Ton

Crude Palm Oil (CPO) Price Falls to US$1,490 per Metric Ton

Tags

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Mount Semeru Erupts Again This Afternoon, Ash Column Reaches 700 Meters Above Peak

Malang's Air Quality Cleanest in Indonesia This Afternoon (23/12)

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