Crude Palm Oil (CPO) Prices on the Rotterdam Commodity Exchange Rise to US$925 per Metric Ton (Thursday, August 17, 2023)

The price of CPO on the Rotterdam commodity exchange this morning, until 09.09 WIB (Western Indonesian Time), is US$925 per metric ton as of Thursday, August 17, 2023. This is a 0.27% increase compared to the previous day's closing price of US$922.5 per metric ton. The CPO price on the Rotterdam commodity exchange is expected to range between US$925 and US$940 per metric ton today.

According to investing.com, the CPO price on the Rotterdam commodity exchange has fallen by 4.15% in the past week. Compared to 30 days ago, the price is still lower by -3.14%.

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 last year, when it was at US$1,305 per ton, the palm oil price has plummeted by -29.12% (Year to Date/YTD). Compared to its lowest point on June 16, 2021, the CPO price has fallen by -5.13%.

The increase in CPO prices has 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 prices on the Rotterdam commodity exchange have actually decreased. The previous record high reached US$1,180 per metric ton.

From January to August 2023, the CPO price on the Rotterdam commodity exchange showed a downward trend, falling by -10.19% compared to the beginning of the year, which was at US$1,030 per metric ton.