PALMOILMAGAZINE, JAKARTA – On Friday (10/11/2023), the crude palm oil (CPO) tender at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) experienced an increase, reaching Rp 11,280/kg.
This marked a rise of Rp 86/kg or approximately 0.77% compared to Thursday’s (9/11/2023) tender at Rp 11,194/kg.
According to information obtained Palmoilmagazine.com from KPBN, the CPO prices varied across different locations: Franco Belawan and Dumai Rp 11,280/kg, Teluk Bayur: Rp 11,150/kg and Talang Duku Rp 11,080/kg, with the highest bid at Rp 10,983/kg (withdrawn).
Meanwhile, the CPO prices on the Malaysia Derivatives Exchange saw an increase. According to Reuters, the CPO contract (FCPOc3) for January 2024 delivery rose by RM 30 or approximately 0.8%, reaching RM 3,772 (US$ 799.49) per metric ton in the morning session on Friday (10/11/2023).
This increase was attributed to rising demands from China, while investors awaited data on demands and supply from the Malaysian Palm Oil Board for the first ten days of November 2023.
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To summarize the tenders at KPBN on Friday (10/11/2023), excluding income tax:
– CPO Franco Belawan and Dumai: Rp 11,280 (MM, IBP)
– CPO Teluk Bayur: Rp 11,150 (WIRA)
– CPO Talang Duku: Rp 11,080, with the highest bid at Rp 10,983 (PHPO). (T2)