Crude Palm Oil (CPO) Prices on the Rotterdam Commodity Exchange Rise to US$1,080 per Metric Ton (Thursday, September 15, 2022)

The price of CPO on the Rotterdam commodity exchange this morning, until 09.09 WIB (Western Indonesian Time), was US$1,080 per metric ton as of Thursday, September 15, 2022. This is a 0.47% increase compared to the previous day's closing price of US$1,075 per metric ton. Today's CPO trading on the Rotterdam commodity exchange is expected to range between US$1,080 and US$1,100 per metric ton.

According to investing.com, the price of CPO on the Rotterdam commodity exchange has fallen by 5.26% in the past week. However, compared to the previous 30 days, the price has increased by 4.35%.

The increase in CPO prices is also influenced by rising demand. The Indonesian Palm Oil Producers 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 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, 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 of US$970 per metric ton on Wednesday, August 3, 2022. The highest point this year was around US$2,010 per metric ton.