PALMOILMAGAZINE, JAKARTA – The crude palm oil (CPO) tender at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) reached Rp 12,100/kg on Friday (19/1/2024), reflecting a Rp 100/kg increase or approximately 0.83% compared to the Thursday (18/1/2024) tender, which stood at Rp 12,000/kg.
According to information obtained by Palmoilmagazine.com from KPBN, the CPO Franco price in Dumai was Rp 12,100/kg, while in Belawan, it also stood at Rp 12,100/kg, with a withdrawal (WD) option having the highest bid at Rp 12,015/kg. In Talang Duku, the price was Rp 11,900/kg, but with WD, the highest bid was Rp 11,795/kg.
For Crude Palm Kernel Oil (CPKO) in Lampung, the price was Rp 11,900/kg, but with WD, the highest bid reached Rp 10,006/kg.
Also Read: CPO OF and Levy Period 16 to 31 January 2024, USS 93 per Metric Ton
Palmoilmagazine.com calculations from January 15 to 19, 2024, indicate that CPO at KPBN increased by approximately Rp 370/kg, reaching Rp 11,929/kg, marking a 3.2% average increase compared to the previous week (8–12 January 2023), which was only Rp 11,559/kg.
The CPO price at the Malaysia Derivatives Exchange also rose on Friday (19/1/2024), marking the second consecutive week of increases. This uptrend is attributed to stagnant production and the high cost of other vegetable oils.
As quoted from Reuters, CPO reference contract with the code FCPOc3 for April 2024 delivery at Malaysia Derivatives Exchange increased RM 21 per ton or about 0,54% to be RM 3.919 per ton in the midday. In this week, it escalated about 1,56%.
Here are tenders at KPBN (Rp./Kg), excluded income tax on Friday (19/1/2024):
CPO:
- Franco Belawan Rp. 12.100 (WD) 2ith the highest bid Rp. 12.015-PHPO,PAA
- Dumai Rp. 12.100-EUP
- Talang Duku Rp. 11.900 (WD) with the highest bid Rp. 11.795-PAA
CPKO: Lampung Rp. 11.900 (WD) with the highest bid Rp. 10.006-KLKD. (T2)
