Indonesia: Exports open again, here's cooking oil & CPO prices today
RBD Palm Oil
Indonesia
Published May 24, 2022
Tridge summary
The price of crude palm oil (CPO) was observed to rise in today's trading session, Monday, May 23, 2022. Today is the first day that President Joko Widodo (Jokowi) has lifted the temporary ban on exports of CPO and its derivatives. . Tradingeconomics projects that CPO prices will trade in the range of MYR 6,325.26 per tonne by the end of this quarter. And it is predicted to climb to MYSR 7,021.07 per tonne in the next 12 months. Today's tradingeconomics chart shows, CPO prices rose from 5-week lows of MYR 5,925 per tonne. The signal for the revival of CPO prices was in response to President Jokowi's announcement to reopen the CPO export faucet which was closed on Thursday (28/4/2022).
Original content
Jakarta, CNBC Indonesia - The price of crude palm oil (CPO) was observed to rise in today's trading session, Monday, May 23, 2022. Today is the first day that President Joko Widodo (Jokowi) has lifted the temporary ban on exports of CPO and its derivatives. . Tradingeconomics projects that CPO prices will trade in the range of MYR 6,325.26 per tonne by the end of this quarter. And is predicted to climb to MYSR 7,021.07 per tonne in the next 12 months. Today's tradingeconomics chart shows, CPO prices rose from 5-week lows of MYR 5,925 per tonne. The signal for the revival of CPO prices was in response to President Jokowi's announcement to reopen the CPO export faucet which was closed on Thursday (28/4/2022). As of the afternoon session, CPO prices rose 1.24% to MYR 6,185 per tonne. Then how about the price of cooking oil? Meanwhile, the Strategic Food Price Information Center (PIHPS) noted that the price of packaged cooking oil for brand-I decreased by Rp450 to Rp26,300 per kg and ...
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