PALMOILMAGAZINE, JAKARTA – The price of crude palm oil (CPO) at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) recorded a decrease to Rp 11,050/kg on Tuesday (31/10/2023). This indicates a decline of Rp 64/kg, or approximately 0.58%, compared to the CPO price on Monday (30/10/2023), which stood at Rp 11,114/kg.
According to information from palmoilmagazine.com obtained from KPBN, the CPO price for Franco Belawan & Dumai was set at Rp 11,050/kg. The CPO price in the Talang Duku region started at Rp. 10,850/kg but experienced a withdrawal (WD) with the highest bid at Rp. 10,750/kg.
Meanwhile, palm oil prices on the Malaysian Exchange also witnessed a decline. The futures contract for palm oil on the Bursa Malaysia continued its second consecutive session of decline on Tuesday (31/10/2023), following decreased exports and concerns about demand.
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As reported by Reuters, the reference futures contract for palm oil with the code FCPOc3 for April 2024 delivery on the Bursa Malaysia Derivatives Exchange dropped by RM 63, marking a decrease of about 1.7%, to reach RM 3,674 (US$ 772.34) per metric ton in morning trading.
This contract has now recorded a loss of 2.4% for the month, heading for its second consecutive monthly decline.
Here are the details of the CPO Tender results at KPBN (Rp./Kg), excluding VAT, on Tuesday (31/10/2023):
- Franco Belawan & Dumai: Rp. 11,050 – EOP, SDS
- Talang Duku: Rp. 10,850 (WD), Highest bid at Rp. 10,750 – PRISCOLIN. (T2)