Throughout 2021, palm oil prices reached a high of Rp 21,340.46 per kg.

Crude Palm Oil (CPO) prices reached their highest point in October 2021. The global economic recovery increased demand for commodities, including palm oil.

Based on data from the Commodity Futures Trading Supervisory Agency (Bappepti) of the Ministry of Trade, the price of palm oil in the Medan spot market closed at Rp 20,051.52 per kilogram (kg) on December 31, 2021. This price is up 38.97% compared to the end of 2020, which was Rp 14,428.23 per kg.

The CPO price in the Medan spot market even reached its highest level of Rp 21,340.46 per kg in October 2021. This figure is the highest in previous years.

The increase in palm oil prices has impacted the price of cooking oil domestically. The price of bulk cooking oil in traditional markets in North Maluku even reached Rp 22,250 per liter on January 6, 2022. This figure is the most expensive compared to other provinces.

Similarly, branded packaged cooking oil is sold at a higher price. In Gorontalo's traditional markets, branded cooking oil is sold at Rp 28,550 per liter, while in North Maluku's traditional markets it is Rp 25,500 per liter.