Palm Oil Monthly Update – January 2023

CME Group USD Malaysian Crude Palm Oil Futures Volume and Open Interest

In December 2022, CME Group crude palm oil volume totaled 15,802 lots (395,050 metric tons) and the end-of-month open interest was 45,733 lots (1,143,325 metric tons).

Volume in the first three contract months were 7,252, which was about 46% of the total monthly volume.

End-of-month open interest in the first three contract months were 16,564, which was about 36% of the total open interest.

Source: CME Group

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Source: CME Group

USD Malaysian Crude Palm Oil Price and Volatility

USD Malaysian Crude Palm Oil futures* settles at $949.00 per metric ton at the end of December 2022, creating a -$7.75 price movement from a month ago.

During the month, 20-Day rolling volatility ranged from 39.3% to 47.9%, with an average of 43.4%.

Source: CME Group

Bean Oil – Palm Oil Spread, Palm Oil – Gasoil Spread Price and Palm Oil FOB Indonesia Basis Price

Bean Oil – Palm Oil (BOPO)** price decreased from $701.79 per ton at the end of the previous month, to $457.77 per ton at the end of the month. The monthly movement was -$244.02.

Source: CME Group

Palm Oil – Gasoil (POGO)*** increased from $24.67 per ton at the end of the previous month, to $38.00 per ton at the end of the month. The monthly movement was $13.33.

Source: CME Group

The FOB Indonesia Basis****, the price spread between Indonesian and Malaysian crude palm oil, increased from $23.25 per ton at the end of the previous month, to $36.00 per ton at the end of the month. The monthly movement was $12.75.

Indonesian crude palm oil prices were not assessed during May 2022. In addition, the FOB Indonesia basis prices starting June 2022 were calculated using Refinitiv crude palm oil FOB Indonesia second forward month prices, instead of the third forward month.