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Crude Palm Oil (CPO) Price Remains at US$952.5 per Metric Ton

Agus Dwi Darmawan 02/06/2024 11:29 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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Crude Palm Oil (CPO) Price Remains 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, compared to the same period last year, the CPO price has decreased by 3.3% (year-on-year/YOY).

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 were still above Rp 20,000 per kg yesterday.

For example, in Lampung, cooking oil is sold for Rp 30,950 per kg. In East Nusa Tenggara, it's Rp 28,900 per kg; in Bengkulu, Rp 26,300 per kg; in parts of North Maluku, Rp 25,700 per kg; and in 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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Crude Palm Oil (CPO) Price Remains at US$952.5 per Metric Ton

Crude Palm Oil (CPO) Price Remains at US$952.5 per Metric Ton

Crude Palm Oil (CPO) Price Remains at US$952.5 per Metric Ton

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Crude Palm Oil (CPO) Price Remains at US$952.5 per Metric Ton

Crude Palm Oil (CPO) Price Remains at US$952.5 per Metric Ton

Crude Palm Oil (CPO) Price Remains at US$952.5 per Metric Ton

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