PALMOILMAGAZINE, JAKARTA – The tender for Crude Palm Oil (CPO) at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) rose to Rp 11,110/kg on Friday (15/12/2023), marking an increase of Rp 16/kg or approximately 0.14% from the previous day’s tender on Thursday (14/12/2023) at Rp 11,094/kg.
According to information KPBN, the rate in Franco, Dumai, was recorded at Rp 11,110/kg. Palmoilmagazine.com calculations indicate that the average CPO price at KPBN during the second week (11 – 15 December 2023) increased by approximately Rp 100/kg, reaching Rp 11,130.44/kg. This represents a 0.9% rise compared to the average CPO price in the previous week (4 – 8 December 2023), which was Rp 11,030.4/kg.
The CPO contract prices at the Malaysia Derivative Exchange continued to climb in early trade on Friday (15/12/2023). This upward trend was driven by reduced production in December 2023 in major producer countries due to the dry season and declining stocks.
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According to Reuters, the CPO reference contract for February 2024 delivery at the Malaysia Derivatives Exchange increased by RM 16 per ton or approximately 0.43%, reaching RM 3,704 (US$ 793.66) per ton in the early session. (T2)
