Unchanged KPBN CPO Price on Wednesday (1/11)

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Doc. palmoilmagazine.com / Unchanged KPBN CPO Price on Wednesday (1/11)

PALMOILMAGAZINE, JAKARTA –  The price of crude palm oil (CPO) at PT Kharisma Pemasaran Bersama Nusantara (KPBN) was recorded unchanged at Rp 11,050/kg on Wednesday (1/11/2023), thus the CPO price has no change or stagnant when compared to the CPO price on Tuesday (31/10/2023) which reached Rp 11,050/kg.

From information obtained by Palmoilmagazine.com from KPBN, the price of CPO Franco Belawan & Dumai was set at Rp 11,050/kg. The CPO price for the Talang Duku area was set at Rp. 10,850/Kg.

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Whereas the average price of KPBN CPO during October 2023 was recorded to have increased by around 0.76% with the average price reaching Rp. 10,957.90/kg, compared to the average price of KPBN CPO in September 2023 which only reached Rp. 10,875.85/kg.

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While the price of palm kernel oil (CPKO) for the Palembang region opened at Rp. 10,612 / kg, there was a withdrawal (WD) with the highest bid of Rp. 10,010 / kg. The price of CPKO in Lampung opened at IDR 10,755 / kg, there was a withdrawal (WD) with the highest bid of IDR 10,000 / kg.

Then the price of palm oil on the Malaysian Exchange also decreased. The price of crude palm oil (CPO) contracts on the Malaysia Futures Exchange fell for the third consecutive session on Wednesday, (1/11/2023), dragged down by concerns over rising stockpiles and weakening prices of other vegetable oils.

As reported by Reuters, the price of the benchmark palm oil contract coded FCPOc3 for January 2024 delivery on the Bursa Malaysia Derivatives Exchange fell RM 17 per ton or about 0.5% to RM 3,661 (US$ 767.18) per metric ton at the opening of trade.

Below are the specifics of the KPBN Tender results (in Rp./Kg), excluding VAT, for Wednesday, November 1, 2023:

Crude Palm Oil (CPO):

Franco Belawan & Dumai: Rp. 11,050-MM, IBP

Talang Duku: Rp. 10,850-SDS

Palm Kernel Oil (CPKO):

Palembang: Rp. 10,612 (WD). Highest bid: Rp. 10,010- IKIN

Lampung: Rp. 10,755 (WD). Highest bid: Rp. 10,000- AMJP. (T2)

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