PALMOILMAGAZINE, JAKARTA – The Crude Palm Oil (CPO) tender at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) saw a decrease to Rp 10,761/kg on Thursday, October 5th, 2023. This marked a reduction of Rp 150/kg compared to the rate on Wednesday, October 4th, 2023, which stood at Rp 10,911/kg.
According to information obtained by Palmoilmagazine.com from KPBN, here are tenders at KPBN (Rp./Kg), excluded income tax on Thursday (5/10/2023):
- In Franco Belawan: Rp 10,761/kg
- In Dumai: Rp 10,761/kg, withdrawal (WD) with the highest bid: Rp 10,700/kg-SJIO
- In Talang Duku: Rp 10,561/kg, withdrawal (WD) with the highest bid: Rp 10,455/kg-WNI
Boyke Suratin, a business practitioner and former Intelligent Market analyst at PTPN 7, expressed the opinion that prior to the closing price on the Malaysia Derivatives Exchange on Wednesday, October 4th, 2023, CPO had shown stability and remained largely unchanged. For CPO contracts in October, November, and December 2023, the prices were projected to be RM 3.646, RM 3.674, and RM 3.715 per ton, respectively.
Also Read : CPO Tender at KPBN on 31 July 2023 in Dumai Got Better and Belawan Withdraw
These figures were compared to the previous day’s rates of RM 3.644, RM 3.672, and RM 3.708 per ton. He continued that CPO contract price got cheaper fast. In addition, this could be palm oil high production. “These are is unpredictable and peak season,” he said. (T2)
