PALMOILMAGAZINE, JAKARTA – The price of crude palm oil (CPO) at PT Kharisma Pemasaran Bersama Nusantara (KPBN) was set at Rp 12,100/kg on Monday (22/1/2024), thus the CPO price recorded no increase compared to the CPO price on Friday (19/1/2024) which reached Rp 12,100/kg.
From the information obtained by Palmoilmagazine.com from KPBN, the price of CPO Franco Belawan & Dumai was set at IDR 12,100/Kg. The price of CPO in Talang Duku was opened at Rp. 11,900/Kg but there was a withdrawal (WD) with the highest bid of Rp. 11,640/Kg.
Meanwhile, CPO prices on the Malaysian Exchange also recorded a decline. Palm oil futures on Bursa Malaysia halted a two-session rally on Monday, (22/1/2024), weighed down by weaker crude oil prices although production concerns and stronger prices of other vegetable oils were able to limit the price decline.
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As reported by Reuters, the price of the benchmark palm oil contract coded FCPOc3 for April 2024 delivery on Bursa Malaysia Derivatives Exchange fell RM 23 per tonne or about 0.51% to RM 3,916 (US$ 830.61) per metric tonne in morning trade.
The following is the breakdown of CPO Tender results at KPBN (Rp./Kg), Excld VAT for the period Monday (22/1/2024):
- Franco Belawan & Dumai IDR 12,100-EOP, SJIO
- Talang Duku Rp. 11,900 (WD). Highest bid IDR 11,640-PAA. (T2)
