PALMOILMAGAZINE, JAKARTA – Crude palm oil (CPO) bids at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) saw an uptick, reaching Rp 11,180/kg on Friday (18/8/2023). This marks a noteworthy Rp 40/kg improvement compared to the previous tender on Wednesday (16/8/2023) at Rp 11,040/kg.
According to information obtained by Palmoilmagazine.com from KPBN, CPO prices in Belawan and Dumai were reported at Rp. 10,890/kg at Talang Duku, with a withdrawal (WD) rate witnessing the highest bid at Rp 10,752/kg. Similarly, at Talang Duku, the price stood at Rp 11,030/kg, with the WD’s highest bid recorded at Rp 10,980/kg. At Teluk Bayur, the price was noted at Rp. 11,050/kg, while in Palembang, it reached Rp 11,005/kg.
The price surge was also mirrored in the Malaysia Derivatives Exchange CPO market. As per a Reuters report, the CPO reference contract with the code FCPOc3 for November 2023 delivery experienced a RM 9 increase, roughly 0.23%, trading at RM 3,932 per metric ton in early trades. This marked the fourth consecutive session of price gains. Throughout the week, the CPO contract price saw a substantial 5.9% escalation.
Also Read : CPO Auction at KPBN Records Rp 40/Kg Increase on August 14, 2023
Here are CPO tenders at KPBN (Rp./Kg), excluded income tax on Friday (18/8/2023):
- Franco Belawan and Dumai Rp. 11.180-PHPO, IBP, PAA
- Talang Duku Rp. 11.030 (WD) with the highest bid Rp. 10.980-EUP
- Teluk Bayur Rp. 11.050-WIRA
- Palembang Rp. 11.005-PRISCOLIN
(T2)
