PALMOILMAGAZINE, JAKARTA – On Tuesday, November 7, 2023, the Crude Palm Oil (CPO) tender at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) experienced a withdrawal (WD) with the highest bid reaching Rp 11.175/kg.
This marked an increase of Rp 52/kg, or approximately 0.52%, compared to the CPO tender held on Friday, November 3, 2023, where the price stood at Rp 11.117/kg.
As reported by Palmoilmagazine.com, the CPO prices obtained from KPBN were as follows:
- Franco Belawan and Dumai: Rp 11.190/kg but in WD with the highest bid at Rp 11.175/kg by MNA and WNI.
- Talang Duku: Rp 10.990/kg.
- Teluk Bayur: Rp 11.060/kg.
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Additionally, the Crude Palm Kernel Oil (CPKO) prices in different regions were as follows:
- Dumai: Rp 11.096/kg, with the highest bid at Rp 10.939/kg by SDS.
- Lampung: Rp 10.875/kg (WD) with the highest bid at Rp 10.100/kg by AMJP.
- Palembang: Rp 10.732/kg, with the highest bid at Rp 10.357/kg by SAP.
Furtherore, the CPO prices at the Malaysia Derivatives Exchange saw an increase on Tuesday, November 7, 2023, following two previous sessions of decrease. This increase was attributed to the depreciation of the Malaysia ringgit and signs indicating that China might intensify its demands.
According to Reuters, the CPO reference price, coded as FCPOc3 for January 2024 delivery at the Malaysia Derivatives Exchange, rose by RM 21 per ton, or approximately 0.5%, reaching RM 3,774 (equivalent to US$ 810.22) per metric ton during the lunch break. (T2)