KPBN CPO Tender Increased 0.75% on October 19, 2023

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PALMOILMAGAZINE, JAKARTA – The crude palm oil (CPO) tender at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) on Thursday, October 19, 2023, rose to Rp 11,300/kg.

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This represented an improvement of Rp 85/kg or approximately 0.75% compared to the Wednesday, October 18, 2023 tender, which stood at Rp 11,215/kg.

According to information from KPBN, CPO prices were Rp 11,300/kg in Belawan and Dumai, but in the withdrawal (WD) category, the highest bid in Dumai was Rp 11,270/kg. In Siak, the price was Rp 11,180/kg, with the highest WD bid at Rp 10,945/kg, excluding income tax.

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Meanwhile, at the Malaysia Derivatives Exchange, CPO trading saw an increase during the second session on Thursday, October 19, 2023, reaching the highest level in the past three weeks. This uptrend was supported by rising prices of other vegetable oils.

As quoted from Reuters, CPO reference contract price with the code FCPOc3 for January 2024 delivery at Malaysia Derivatives Exchange increased RM 31 per ton or about 0,81% to be RM 3,841 (US$ 806,93) per metric ton in the early. (T2)

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