Palm Oil Monthly Update ‒ July 2022

USD Malaysian Crude Palm Oil futures volume and open interest

In June 2022, CME Crude Palm Oil volume totaled 31,653 lots (791,325 metric tons) and the end-of-month open interest was 48,318 lots (1,207,950 metric tons).

Volume during the first three contract months was 12,238, which was about 39% of the total monthly volume.

End-of-month open interest during the first three contract months was 17,352, 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* settled at $1,112.75 per metric ton at the end of June 2022, creating a -$309.50 price movement from the beginning of the month.

During the month, 20-Day rolling volatility ranged from 25.0% to 62.2%, with an average of 41.3%.

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 increased from $295.59 per ton at the beginning of the month to $428.94 per ton at the end of the month. The monthly movement was $133.35.

 

Source: CME Group

Palm Oil – Gasoil (POGO)*** decreased from $208.85 per ton at the beginning of the month to -$23.25 per ton at the end of the month. The monthly movement was -$232.10.

Source: CME Group

The FOB Indonesia basis****, the price spread between Indonesian and Malaysian crude palm oil, decreased from $227.75 per ton at the beginning of the month to $197.25 per ton at the end of the month. The monthly movement was -$30.50.

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

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