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Morning, CPO price traded at US$952.5 per metric ton.

Agus Dwi Darmawan 01/06/2024 11:32 WIB

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Crude Palm Oil (CPO) Prices Over the Last Three Months - Data as of Thursday, May 30, 2024

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Morning, CPO price traded at US$952.5 per metric ton.

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Crude Palm Oil (CPO) Prices Over the Last Three Months - Data as of Thursday, May 30, 2024

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Crude Palm Oil (CPO) prices on the Rotterdam Spot Market remained steady at US$952.5 per metric ton for the past 35 days, as of Thursday, May 30, 2024. The CPO price reached its highest level of US$1,160 per metric ton on Wednesday, April 3, 2024.

Compared to the beginning of the year, the CPO price on the Spot Market today is up 5.25% (year-to-date/YTD). However, year-on-year (YOY), the CPO price has decreased by 3.3% compared to the same period.

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.

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. From April 28 to 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 overcome 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 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 30,950 per kg. In East Nusa Tenggara, it is Rp 28,900 per kg; in Bengkulu, Rp 26,300 per kg; in North Maluku, Rp 25,700 per kg; and in parts of South Sulawesi, Rp 24,300 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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Morning, CPO price traded at US$952.5 per metric ton.

Morning, CPO price traded at US$952.5 per metric ton.

Morning, CPO price traded at US$952.5 per metric ton.

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Morning, CPO price traded at US$952.5 per metric ton.

Morning, CPO price traded at US$952.5 per metric ton.

Morning, CPO price traded at US$952.5 per metric ton.

Tags

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