CPO Price Holds Steady at US$997.5 per Metric Ton

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Agus Dwi Darmawan 04/01/2023 11:44 WIB

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The National Center for Strategic Food Price Information (PIHPS) reports that cooking oil prices monitored yesterday remained above Rp 20,000 per kg.

Crude Palm Oil (CPO) Prices Over the Last Three Months - Data as of January 1st, 2023

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CPO Price Holds Steady at US$997.5 per Metric Ton

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Crude Palm Oil (CPO) Prices Over the Last Three Months - Data as of January 1st, 2023

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The price of Crude Palm Oil (CPO) in the Rotterdam Spot Market remained steady at US$997.5 per metric ton for the past 11 days, as of Sunday, January 1, 2023. The CPO price reached its highest level of US$2,010 per metric ton on Wednesday, March 9, 2022.

Compared to the beginning of the year, the CPO price in the Spot Market today is down 24.43% (year-to-date/YTD). Similarly, compared to the same period last year, the CPO price has fallen 22.67% (year-on-year/YOY).

Meanwhile, domestically, the price of palm oil in the Medan spot market reached Rp 16,702 per kg at the close of trading on Friday, December 30, 2022.

In some regions of Indonesia, the price of branded cooking oil remains high. The National Strategic Food Price Information Center (PIHPS) reported that the price of cooking oil yesterday was still above Rp 20,000 per kg.

For example, in Lampung, the price of cooking oil is sold at Rp 30,600 per kg. In North Maluku, it's Rp 29,950 per kg; in Maluku, Rp 26,400 per kg; in Bengkulu, Rp 26,300 per kg; and in parts of Central Kalimantan, Rp 25,900 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."