Crude Palm Oil (CPO) Prices on the Rotterdam Commodity Exchange Rise to US$1,160 per Metric Ton (Thursday, September 1, 2022)

The price of CPO on the Rotterdam commodity exchange this morning until 09.09 WIB was US$ 1,160 per metric ton as of Thursday, September 1, 2022. The CPO price on the Rotterdam commodity exchange increased by 0.87% compared to the previous day's closing price of US$ 1,150 per metric ton. Today's CPO trading on the Rotterdam commodity exchange is expected to range from US$ 1,160 - 1,160 per metric ton.

As shown on investing.com, the CPO price on the Rotterdam commodity exchange has increased by 2.65% in a week. Compared to 30 days prior, the CPO price on the Rotterdam commodity exchange has increased by 11.54%.

The increase in CPO prices is also influenced by rising demand. The Indonesian Palm Oil Entrepreneurs Association (Gapki) noted that domestic palm oil consumption continues to increase from 11.05 million tons to 16.73 million tons in 2019 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, for a one-year data range, CPO on the Rotterdam commodity exchange has actually decreased. The previous highest record reached US$ 2,010 per metric ton.

For the January-September 2022 period, the CPO price on the Rotterdam commodity exchange showed a downward trend, moving -12.12% compared to the beginning of the year, which was at US$ 1,320 per metric ton.