PALMOILMAGAZINE, JAKARTA – On Friday, January 26, 2024, the tender price for Crude Palm Oil (CPO) at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) reached Rp 12,200/kg, marking an increase of Rp 10/kg or approximately 0.08% compared to the previous Thursday’s (January 25, 2024) tender, which stood at Rp 12,190/kg.
According to information obtained from KPBN by Palmoilmagazine.com, the CPO Franco prices in Belawan and Dumai were both Rp 12,200/kg. In Talang Duku, the price was Rp 12,000/kg, but during withdrawal (WD), the highest bid was Rp 11,901/kg. Crude Palm Kernel Oil (CPKO) in Lampung was priced at Rp 12,374/kg, with the highest bid during withdrawal at Rp 9,009/kg.
Palmoilmagazine.com calculations for the period from January 22 to January 26, 2024, revealed that the average CPO price at KPBN increased by about Rp 239/kg, reaching Rp 12,168/kg or approximately 2% higher compared to the preceding period (January 15-19, 2023), which had a price of Rp 11,929/kg.
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Meanwhile, at the Malaysia Derivatives Exchange, the CPO price experienced a decrease on Friday, January 26, 2024. This decline was attributed to the overall reduction in prices of other vegetable oils. Despite predictions of a production decrease due to higher exports in January, the market saw a dip in CPO prices.
As quoted from Reuters, CPO contract price with the code FCPOc3 for April 2024 delivery at Malaysia Derivatives Exchange got cheaper RM 5 per ton or about sekitar 0,13% to be RM 3.989 (US$ 844,23) per metric ton in the midday. It stopped the increasing price.
In this week, CPO price increased 1,27% because of heavy rain in Malaysia, the second biggest palm oil producer in the world. It made the decreasing production prediction increase in January.
Here are tenders at KPBN (Rp./Kg), excluded income tax on Friday (26/1/2024):
CPO:
- Franco Belawan and Dumai Rp. 12.200-UNILEVER, MM, IBP
- Talang Duku Rp. 12.000 (WD) with the highest bid Rp. 11.901-PHPO
CPKO: Lampung Rp. 12.374 (WD) with the highest bid Rp. 9.009-KLKD. (T2)
