Crude Palm Oil (CPO) Price on the Rotterdam Commodity Exchange Falls to US$950 per Metric Ton (Thursday, May 4, 2023)

The price of CPO on the Rotterdam commodities exchange this morning, until 09.09 WIB (Western Indonesian Time), was US$950 per metric ton as of Thursday, May 4, 2023. This is a 3.06% decrease compared to the previous day's closing price of US$980 per metric ton. Today's CPO trading on the Rotterdam commodities exchange is expected to range between US$950 and US$970 per metric ton.

According to investing.com, the price of CPO on the Rotterdam commodities exchange has fallen by 5.47% in the past week. Compared to the price 30 days ago, the price is still lower by -7.54%.

Before Russia's invasion of Ukraine, the CPO price on the Rotterdam spot market was at US$1,640 per ton (February 23, 2022). After the invasion, the CPO price surged for two weeks.

Compared to the end-of-year price of US$1,305 per ton, the palm oil price has plummeted by -27.2% (Year to Date/YTD). Compared to the lowest point on June 16, 2021, the CPO price has dropped by -2.56%.

The increase in CPO prices also impacted cooking oil prices in Indonesia. Cooking oil prices in various regions are above Rp 20,000 per liter. There were even periods of cooking oil shortages in the market.

However, over the past year, CPO on the Rotterdam commodities exchange has actually experienced a decline. The previous record high reached US$1,775 per metric ton.

The CPO price on the Rotterdam commodities exchange reached its lowest point of US$940 per metric ton on Tuesday, March 7, 2023. The highest point this year was around US$1,065 per metric ton.