KPBN CPO Tender Shows 1.91% Increased on Friday (13/10)

Palm OIl Magazine
The CPO tender at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) saw a notable increase to Rp 10,955/kg on Friday, October 13, 2023

PALMOILMAGAZINE, JAKARTA – The CPO tender at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) saw a notable increase to Rp 10,955/kg on Friday, October 13, 2023, marking a significant improvement of Rp 210/kg or a growth of approximately 1.91% when compared to the previous day’s tender on Thursday, October 12, 2023, which stood at Rp 10,745/kg.

As reported by Palmoilmagazine.com from KPBN, the CPO prices in different regions were noted as follows: in Belawan and Dumai, it reached Rp 10,955/kg, while in Talang Duku, it was slightly lower at Rp 10,755/kg.

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Additionally, the CPO trading at the Malaysia Derivatives Exchange displayed a positive trend. According to Reuters, the reference contract price for CPO, denoted by the code FCPOc3, with delivery set for December 2023, increased by RM 46 per ton, equivalent to approximately 1.26%, reaching RM 3,684 (US$ 778.69) per metric ton during the midday lunch break. This followed a substantial 2.5% increase on Thursday.

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Furthermore, it’s worth noting that the Government of Indonesia initiated its CPO exchange and entrusted PT ICDX with the responsibility of executing this endeavor.

Head of Commodity Futures Trading Supervisory Agency, Didid Noordiatmoko said the main goal of CPO futures is about to realize the dream of Indonesia to get its own CPO price which is fair, transparent, and real time.

“Commodity exchange in Indonesia would be a voluntary which means, there is no force for every stakeholder to participate in realizing CPO dignity in this country,” Didid said when delivering his speech in Indonesian Derivative and Commodity launching that Palmoilmagazine.com saw, Friday (13/10/2023). (T2)

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