Palm Oil Magazine - CPO Prices at KPBN Tender Rose 0.64 Percent on Tuesday (16/1)

PALMOILMAGAZINE, JAKARTA – On Tuesday, January 16, 2024, the tender price for Crude Palm Oil (CPO) at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) rose to Rp 11,860/kg. This marked an increase of Rp 75/kg or approximately 0.64% compared to the previous day’s tender on Monday, January 15, 2024, which was Rp 11,785/kg.

As reported by Palmoilmagazine.com, the CPO Franco prices in Belawan and Dumai were both Rp 11,860/kg, while in Palembang, it was Rp 11,710/kg. Additionally, Crude Palm Kernel Oil (CPKO) in Dumai was priced at Rp 11,861/kg, Lampung at Rp 11,640/kg, and the withdrawal (WD) rate with the highest bid reached Rp 11,350/kg. In Palembang, the CPKO was quoted at Rp 11,497/kg.

Furthermore, the CPO trade at the Malaysia Derivatives Exchange experienced an increase on the same day. This upward trend was attributed to the Government of India issuing permits to import vegetable oil with low import taxes for the upcoming year.

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CPO Reference Price for the Period of January 1 to 15, 2024 Declines: CPO Out Fee and Levy US$93 Per Ton

According to Reuters, the CPO reference contract with the code FCPOc3, set for April 2024 delivery at the Malaysia Derivatives Exchange, saw a rise of RM 49 per ton or approximately 1.29%, reaching RM 3,849 (US$ 821.91) per ton at midday.

Here are CPO and CPKO tenders at KPBN (Rp./Kg), excluded income tax on Tuesday (16/1/2024):

CPO: