Year 2021 was an exciting year for the Indonesian palm oil business due to skyrocketing CPO prices in the local and global markets. In 2021 the average price of CPO was US$ 1,000 per ton. The highest price would occur in October 2021, touching the level of US$ 1,390 per ton, so there is a 56% increase compared to the CPO price in the previous year. Entering 2022, the trend of rising CPO prices continues.
The high increase in CPO prices has made the performance of domestic palm oil companies excited again after experiencing sluggishness in the last two years (2018 – 2019). During these difficult times, many domestic palm oil companies experienced a decline in their revenue, resulting in a sharp decline in net profit, and many even suffered heavy losses, so that some were unable to survive and sold their palm oil plantations and plants to third parties.
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