PALMOILMAGAZINE, JAKARTA – On Friday, December 8, 2023, the tender for Crude Palm Oil (CPO) at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) experienced an increase, reaching Rp 11,046/kg.
This signifies a rise of Rp 133/kg or approximately 1.21% compared to the Thursday (7/12/2023) tender, which was at Rp 10,913/kg.
According to information obtained by Palmoilmagazine.com from KPBN, the CPO franco prices in Belawan and Dumai were both Rp 11,046/kg. Palmoilmagazine.com calculations reveal that by early December 2023, CPO saw a decrease of Rp 290.2/kg, averaging at Rp 11,030.4/kg. This represents a decline of about 2.56% compared to the previous week’s average of Rp 11,320.6/kg.
Also Read : CPO Out Fee and Export Duty at US$ 118 Per Ton in the First Period of December 2023
Furthermore, the CPO price at the Malaysia Derivatives Exchange increased on Friday, December 8, 2023. This shift occurred as other vegetable oils became more expensive, halting the five-session decline in prices.
As reported by Reuters, the reference contract price for CPO with the code FCPOc3, set for February 2024 delivery at the Malaysia Derivatives Exchange, increased by RM 48 per ton or approximately 1.30%, reaching RM 3,750 (US$ 803.86) by midday. However, the overall CPO price experienced a 3.20% decrease for the week. (T2)
