Jakarta, CNBC Indonesia – The price of cooking oil crept up. This development cannot be separated from the upward trend in crude palm oil prices (Crude Palm Oil/CPO).
Citing records from the Strategic Food Price Information Center (PIHPS), the average price of packaged cooking oil with brand 1 in traditional markets on March 2, 2022 was Rp 19,500/kg. An increase of IDR 50 compared to the previous day as well as being the highest since February 18, 2022.
Cooking oil prices began to rise, along with the upward trend in CPO prices. In the past month, the price of CPO on Bursa Malaysia rose 18.37% on a point-to-point. Over the past year, prices have skyrocketed 78.21%.
On March 2, 2022, the price of CPO on Bursa Malaysia touched MYR 7,108/ton in trading intraday. This is a record high in history.
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