Crude Palm Oil (CPO) price on the Rotterdam Commodity Exchange remains at US$ 985 per metric ton (Sunday, May 7, 2023)

The price of CPO on the Rotterdam commodity exchange this morning until 09.09 WIB was US$ 985 per metric ton, data as of Sunday, May 7, 2023. The CPO price on the Rotterdam commodity exchange only moved up 5.35% compared to the closing price on Thursday, May 4, 2023, which was traded at US$ 935 per metric ton. Today's CPO trading on the Rotterdam commodity exchange is expected to move in the range of US$ 985 - US$ 985 per metric ton.

As shown on investing.com, the CPO price on the Rotterdam commodity exchange has increased by 0.51% in a week. Compared to 30 days prior, however, the CPO price on the Rotterdam commodity exchange is still lower by -3.9%.

Before Russia's attack on Ukraine, the CPO price on the Rotterdam spot market was still at US$ 1,640 per ton (2/23/2022). After the invasion, the CPO price soared for two weeks.

Compared to the end of last year, which was still at US$ 1,305 per ton, the palm oil price has plummeted by -24.52% (Year to Date/YTD). Compared to the lowest point on June 16, 2021, however, the CPO price has surged by 1.03%.

The increase in CPO prices has also impacted the price of cooking oil in Indonesia. Cooking oil prices in various regions are above Rp 20,000 per liter. Cooking oil was even temporarily scarce in the market.

However, for a one-year data range, CPO on the Rotterdam commodity exchange has actually experienced a decline. The previous highest record reached US$ 1,770 per metric ton.

For the period January-May 2023, the CPO price on the Rotterdam commodity exchange showed a downward trend, moving -4.37% compared to the beginning of the year, which was at US$ 1,030 per metric ton.