The price of palm frying oil increases in Indonesia

The price of Palm Frying Oil in Indonesia has been soaring since September 2021, with increase of 27% ptp. The average price for branded frying palm oil was USD 20.7 per kg in January, but the price was USD 16.3 per kg in September 2021. This price increase is mainly due to the rise of global CPO price and this CPO price increase was driven by the decrease of CPO production in Indonesia and Malaysia as a result of the public and economic activity restrictions (PPKM). The Indonesian government plans to take some actions by releasing subsidized frying oil produced by the state-owned company.