This morning, CPO prices are traded at US$1,020 per metric ton.
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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 closing price. CPO prices had reached their highest level 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, year-on-year (YOY), CPO prices have increased by 3.03%.
Meanwhile, domestically, the CPO price on the Medan spot market reached Rp 15,410 per kg at the close of trading on Wednesday, April 17, 2024.
Previously, the government banned the export of cooking oil and CPO on April 28, 2022. This ban caused the CPO price on 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 yesterday were still above Rp 20,000 per kg.
In Aceh, for example, cooking oil is sold for Rp 19,900 per kg. In parts of Bali, cooking oil is priced 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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