Crude Palm Oil (CPO) Prices on the Rotterdam Commodity Exchange Rise to US$1,005 per Metric Ton (Thursday, October 13, 2022)

The price of CPO on the Rotterdam commodity exchange this morning, until 09.09 WIB (Western Indonesian Time), was US$1,005 per metric ton as of Thursday, October 13, 2022. This is a 1.01% increase compared to the previous day's closing price of US$995 per metric ton. The CPO price on the Rotterdam commodity exchange is expected to range between US$1,005 and US$1,015 per metric ton today.

According to investing.com, the price of CPO on the Rotterdam commodity exchange has increased by 3.61% in the past week. However, compared to 30 days ago, the price is still lower by -10.27%.

The increase in CPO prices is also influenced by rising demand. The Indonesian Palm Oil 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 2022.

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 biodiesel mandate policy, potentially reaching 8.83 million tons in 2022.

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

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