Palm Oil Prices Rise Due to Increased Demand Ahead of Chinese New Year and Ramadan The Ministry of Trade recorded an increase in CPO reference prices in line with the surge in demand. Red: Ahmad Fikri Noor

REPUBLICA.CO.ID, JAKARTA – The Ministry of Trade (Kemendag) stated that the increase in the reference price (HR) of crude palm oil (CPO) is influenced by rising demand in anticipation of the Lunar New Year and Ramadan 2026. The CPO export price (PE) for the period of February 1–28, 2026, was set at 918.47 US dollars per metric ton (MT). This value increased by 2.84 US dollars or 0.31 percent compared to the CPO reference price for the period of January 1–31, 2026, which was recorded at 915.64 US dollars per MT. "This increase is due to rising demand in anticipation of the Lunar New Year and Ramadan, which is not accompanied by an increase in supply due to reduced production," said Director General of Foreign Trade at Kemendag Tommy Andana in a statement in Jakarta, Monday (2/2/2026). Tommy explained that the price source for the CPO reference price was obtained from the average price in the time range of December 20, 2025, to January 19, 2026. The price source refers to the CPO ...