Ministry of Trade: CPO Prices Rise Influenced by Vegetable Oil in China and US The reference price for palm oil (CPO) for April 2024 is 857.62 US dollars. Red: Lida Puspaningtyas

REPUBLIKA.CO.ID, JAKARTA -- The Ministry of Trade (Kemendag) said that the increase in the price of crude palm oil (CPO) in April 2024 was influenced by several factors, one of which was the increase in the price of vegetable oils in China and the United States. Director General of Foreign Trade at the Ministry of Trade, Budi Santoso, said that the reference price (HR) for palm oil (CPO) for April 2024 was 857.62 US dollars per metric ton, an increase of 58.72 US dollars or 7.3 percent compared to the previous month. "The increase in CPO HR was influenced by the increase in vegetable oil prices in the People's Republic of China and the United States," said Budi in a statement in Jakarta, Friday (29/3/2024). Budi said that fluctuations in the exchange rate of the Malaysian rupiah and ringgit against the United States dollar contributed to the increase in palm oil prices. In addition, increasing demand for biodiesel and decreasing palm oil production in Indonesia have also affected ...