CPO Tender at KPBN Withdrawn on Tuesday (17/10)

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Doc. Palmoilmagazine.com

PALMOILMAGAZINE, JAKARTA – The crude palm oil (CPO) tender at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) on Tuesday, October 17, 2023, was withdrawn after receiving the highest bid at Rp 11,115/kg.

This represents an improvement of Rp 52/kg, or approximately a 0.46% increase compared to the previous day’s tender on Monday, October 16, 2023, which stood at Rp 11,063/kg.

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What Palmoilmagazine.com got from KPBN, CPO in Belawan was Rp 11.165/Kg but in withdraw (WD) with the highest bid Rp 11.115/kg. CPO in Dumai was Rp 11.165/Kg, and in WD with the highest bid Rp 11.136/kg. In Siak it was Rp. 11.045/kg and in WD with the highest bid Rp 10.905/kg, excluded income tax.

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Meanwhile, CPO trade at Malaysia Derivatives Exchange increased to the highest level in the past three weeks and the increasing exports when crude oil got cheaper that limited the increasing price.

As quoted from Reuters, CPO reference contract price with the code FCPOc3 for January 2023 delivery at Malaysia Derivatives Exchange increased RM 15 per ton or about 0,4% to be RM 3,793 (US$ 801,73) per metric ton in the morning session.

In the closing price at Malaysia Derivative Exchange on Monday, CPO got better – in Nov, December 2023 and January 2024 would be RM 3735,  RM 3765 and RM 3780 – increased compared to RM 3714, RM 3737 and RM3759 by last week trade (Friday). (T2)

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