Different Fates Of Coal And Palm Oil Prices: Some Soar And Drop

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JAKARTA The Central Statistics Agency (BPS) reports that the fluctuations in Indonesia's leading commodity prices in the world market are still ongoing.

Plt. Head of BPS Amalia Adininggar Widyasanti said that this can be seen from the volatility of coal prices and palm oil (crude palm oil/CPO) which is quite striking.

"The price of palm oil has decreased monthly or month to month (mtm), while coal prices have increased in the global market," he said during a press conference in Jakarta, Friday, September 15.

According to Amalia, in August 2023 the price of palm oil fell minus 2.01 percent mtm to 860.8 dollars per metricton. Meanwhile, coal jumped 8.52 percent 152.6 dollars per meteric tonne.

"Meski demikian, harga kedua komoditas ini turun secara tahunan atau year on year (yoy)," tuturnya.

Amalia detailed that the price of CPO was minus 16.10 percent yoy compared to August 2022. Meanwhile, coal fell more within minus 62.50 percent yoy compared to the same period the previous year.

"Even so, in general, Indonesia's main trading partner economy continues to grow positively year on year. This shows that global demand is still growing positively," he stressed.