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Palm Oil Monthly Update ‒ January 2022

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USD Malaysian Crude Palm Oil volume and open interest

In December 2021, CME Crude Palm Oil volume totaled 18,020 lots (450,500 metric tons) and the end-of-month open interest was 51,581 lots (1,289,525 metric tons). Volume and end-of-month OI in the first three contract months were 7,240 and 17,841, respectively.

USD Malaysian Crude Palm Oil Calendar futures (CPO) performance:

  • Total volume: 17,780 lots. Volume in the first three contract months: 7,000 lots (dotted bars in the chart).
  • Total end-of-month OI: 45,021 lots. Open interest in the first three contract months: 11,281 lots.

Malaysian Palm Oil Calendar swaps (CPC) performance:

  • Total volume: 240 lots. Volume in the first three contract months: 240 lots (dotted bars in the chart).
  • Total end-of-month OI: 6,560 lots. Open interest in the first three contract months: 6,560 lots.

Source: CME Group

Source: CME Group

USD Malaysian Crude Palm Oil price and volatility

USD Malaysian Crude Palm Oil futures* settled at $1,105.25 per metric ton at the end of December 2021, creating a $68.50 price movement from the beginning of the month.

During the month, 20-Day rolling volatility ranged from 32.7% to 43.4%, with an average of 37.2%.

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 $176.89 per ton at the beginning of the month, to $135.95 per ton at the end of the month. The monthly movement was -$40.94.

Source: CME Group

Palm Oil – Gasoil (POGO)*** increased from $420.75 per ton at the beginning of the month, to $438.25 per ton at the end of the month. The monthly movement was $17.50.

Source: CME Group

The FOB Indonesia basis****, the price spread between Indonesian and Malaysian crude oil palm, decreased from $218.25 per ton at the beginning of the month, to $134.75 per ton at the end of the month. The monthly movement was -$83.50.

Source: CME Group

Images provided by CME Group

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