PALMOILMAGAZINE, JAKARTA – On Tuesday, October 3, 2023, the tender price for Crude Palm Oil (CPO) at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) rose to Rp 10,873 per kilogram. This marked an improvement of Rp 62 per kilogram compared to the Monday, October 2, 2023 tender, which stood at Rp 11,811 per kilogram.
According to information obtained by Palmoilmagazine.com from KPBN, the prices for CPO varied across different locations. In Kuala Tanjung, Belawan, and Dumai, the price was Rp 10,873 per kilogram. In Talang Duku, it was slightly lower at Rp 10,673 per kilogram, while in Teluk Bayur, it was Rp 10,743 per kilogram.
Meanwhile, CPO trade at Malaysia Derivatives Exchange in September 2023 increased a little bit. As quoted from Reuters, CPO reference contract with the code FCPOc3 for December 2023 delivery at Malaysia Derivatives Exchange increased 0,81% to be RM 3,733 (US$ 790,39) per metric ton di the early trade.
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It decreased 6,06% in September 2023 compared to the previous month after it increased for two months in a row.
Business practitioner and former intelligent market at PTPN 7, Boyke Suratin said that at closing price at Malaysia Derivatives Exchange on Monday (2/10), CPO got cheaper – for October, November, and December 2023 contract prices that would be RM 3645, RM 3673 and RM 3704 or decrease RM 3689, RM 3732 and RM 3767 from on Friday last week. (T2)
