Crude Palm Oil (CPO) Prices on the Rotterdam Commodity Exchange Rise to US$995 per Metric Ton (Thursday, December 22, 2022)

The price of CPO at the Rotterdam commodity exchange this morning, until 09.09 WIB (Western Indonesian Time), was US$995 per metric ton as of Thursday, December 22, 2022. This is a 3.65% increase compared to the previous day's closing price of US$960 per metric ton. The CPO price at the Rotterdam commodity exchange is expected to range between US$995 and US$1,010 per metric ton today.

According to investing.com, the CPO price at the Rotterdam commodity exchange has fallen by 0.5% in the past week. Compared to 30 days prior, the price is still down by -9.55%.

The increase in CPO prices is also influenced by rising demand. The Indonesian Palm Oil Producers Association (Gapki) notes that domestic palm oil consumption has steadily increased from 11.05 million tons in 2019 to 16.73 million tons in 2021 and 18.42 million tons in 2021.

Gapki predicts that domestic consumption for food in 2022 will increase by 9.6 million tons, and absorption for biodiesel will heavily depend on the mandatory biodiesel policy, potentially reaching 8.83 million tons in 2022.

However, over the past year, CPO prices at the Rotterdam commodity exchange have actually decreased. The previous highest record reached US$2,010 per metric ton.

The CPO price at the Rotterdam commodity exchange reached its lowest point of US$880 per metric ton on Thursday, September 29, 2022. The highest point this year was around US$2,010 per metric ton.