CPO Prices at KPBN Tender Rise by 0.84%  on Thursday (18/1), Similar Surge Noted at Malaysia Exchange

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CPO storage tank. Photo by: palmoilmagazine.com

PALMOILMAGAZINE, JAKARTA – On Thursday, January 18, 2024, the tender price for Crude Palm Oil (CPO) at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) rose to Rp 12,000/kg, indicating a hike of Rp 100/kg or approximately 0.84% compared to the previous day’s tender on Wednesday, January 17, 2024, which stood at Rp 11,900/kg.

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As per information obtained from KPBN, the CPO Franco prices were Rp 12,000/kg in Belawan and Dumai, while in withdrawal (WD), the highest bid in Dumai was Rp 11,950/kg. Additionally, Crude Palm Kernel Oil (CPKO) in Lampung was priced at Rp 11,818/kg, but in withdrawal (WD), the highest bid was Rp 11,400/kg.

Meanwhile, the CPO prices at the Malaysia Derivatives Exchange experienced an increase on Thursday, January 18, 2024. This surge was attributed to growing demands, particularly from China, and the rising cost of crude oil. However, it’s worth noting that India imposed limitations on the extent of the price increase.

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As quoted from Reuters, CPO reference price with the code FCPOc3 for April 2024 delivery at Malaysia Derivatives Exchange increased RM 51 per ton or about 1,34%, to be RM 3.866 (US$ 820,11) per ton in the midday.

Here are tenders at KPBN (Rp./Kg), excluded income tax on Thursday (18/1/2024):

CPO:

  • Franco Belawan Rp. 12.000-ACI
  • Dumai Rp. 12.000 (WD) with the highest bid Rp. 11.950-EUP

CPKO:

Lampung Rp. 11.818 (WD) with the highest bid Rp. 11.400-AMJP  (T2)

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