CPO Price at KPBN Tender on Wednesday (16/11), Highest Bid Reaches IDR 11,550/Kg

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Doc. Sawit Fest 2021 / M Awaluddin Fajri / CPO Price at KPBN Tender on Wednesday (16/11), Highest Bid Reaches IDR 11,550/Kg

PALMOILMAGAZINE, JAKARTA – On Wednesday (15/11/2023), the Crude Palm Oil (CPO) tender at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) witnessed a withdrawal (WD) with the highest bid reaching Rp 11,550/kg. This reflects a Rp 50/kg increase, approximately 0.43%, compared to the Tuesday (14/11/2023) tender, which stood at Rp 11,500/kg.

Palmoilmagazine.com obtained information from KPBN indicating that CPO franco Belawan was initially at Rp 11,627/kg but withdrew with the highest bid set at Rp 11,550/kg. Similarly, CPO in Dumai started at Rp 11,627/kg and withdrew with the highest bid at Rp 11,560/kg. In Talang Duku, CPO was initially priced at Rp 11,427/kg but withdrew with the highest bid at Rp 11,360/kg.

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The Crude Palm Kernel Oil (CPKO) in Lampung had an initial price of Rp 111,337/kg but withdrew with the highest bid at Rp 10,200/kg.

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Meanwhile, Malaysian CPO exhibited an increase in contract price at the Malaysia Derivatives Exchange on the same day, continuing the upward trend from previous sessions. This upward movement was also observed in the prices of soyoil at Dalian and Chicago.

As reported by Reuters, the CPO reference contract with the code FCPOc3 for January 2024 delivery at the Malaysia Derivatives Exchange rose by RM 45 per ton, approximately 1.15%, reaching RM 3,949 (US$ 846.88) per metric ton during the morning session.

Here are the CPO and CPKO tender results at KPBN (Rp./kg), excluding income tax, on Wednesday (15/11/2023)

CPO______

Franco Belawan Rp. 11.627 (WD) with the highest bid Rp. 11.550 -SMART

Dumai Rp. 11.627 (WD) with the highest bid Rp. 11.560-SDS

Talang Duku Rp. 11.427(WD) with the highest bid Rp. 11.360-SDS

CPKO______

Lampung Rp. 11.337 (WD) with the highest bid Rp. 10.200 – AMJP

(T2)

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