CPO Prices Rise 0.34% on KPBN Tender, While Malaysian Exchanges Decline on Wednesday (17/1)

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CPO Prices Rise 0.34% on KPBN Tender, While Malaysian Exchanges Decline on Wednesday (17/1). Photo by: Sawit Fest 2021 / Atqiyaudin Basr

PALMOILMAGAZINE, JAKARTA – On Wednesday, January 17, 2024, the tender for Crude Palm Oil (CPO) at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) saw an increase to Rp 11,900/kg, marking an improvement of Rp 40/kg or approximately 0.34% compared to the previous day’s tender on Tuesday, January 16, 2024, which stood at Rp 11,860/kg.

According to information obtained by Palmoilmagazine.com from KPBN, the CPO Franco price in Dumai was Rp 11,900/kg, while in Lampung, it was Rp 11,775/kg. The price of Crude Palm Kernel Oil (CPKO) was Rp 11,827/kg, but during withdrawal (WD), the highest bid reached Rp 11,500/kg.

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Meanwhile, at the Malaysia Derivatives Exchange, the price of CPO experienced a decrease on Wednesday, January 17, 2024, influenced by the declining prices of other vegetable oils at the Dalian and Chicago Board of Trade.

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As reported by Reuters, the CPO reference contract with the code FCPOc3, scheduled for April 2024 delivery, dropped by RM 44 per ton or approximately 1.47%, closing at RM 3,818 (US$ 809.76) per ton in the concluding session.

Here are CPO and CPKO tenders at KPBN (Rp./Kg), excluded income tax on Wednesday (17/1/2024):

CPO:

  • Franco Dumai Rp. 11.900-EUP
  • Lampung Rp. 11.775-AMJP

CPKO:

  • Lampung Rp. 11.827 (WD) with the highest bid Rp. 11.500-AMJP. (T2)
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