CPO Prices at KPBN Tender on Tuesday (30/1), Withdraw with the Highest Bid Rp. 11.800/Kg

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CPO Prices at KPBN Tender on Tuesday (30/1), Withdraw with the Highest Bid Rp. 11.800/Kg. Photo by: Palmoilmagazine

PALMOILMAGAZINE, JAKARTA – The crude palm oil (CPO) tender at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) experienced a withdrawal (WD) with the highest bid reaching Rp 11,800/kg on Tuesday (30/1/2024). This signifies a decrease of Rp 341/kg or approximately 2.81% compared to Monday’s (29/1/2024) tender, which stood at Rp 12,141/kg.

Information obtained from KPBN reveals that CPO Franco in Belawan was initially priced at Rp 11,901/kg but, during the withdrawal, it secured the highest bid at Rp 11,800/kg. Meanwhile, crude palm kernel oil (CPKO) in Lampung was priced at Rp 12,156/kg, but during the withdrawal, it obtained the highest bid at Rp 8,008/kg.

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The CPO price at the Malaysia Derivatives Exchange also experienced a decrease on Tuesday (30/1/2024). This decline was attributed to the concurrent reduction in other vegetable oil prices and the strengthening of the Malaysia ringgit.

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Quoting Reuters, the CPO reference contract price with the code FCPOc3, scheduled for April 2024 delivery at the Malaysia Derivatives Exchange, dropped by RM 106 per ton or approximately 2.68%. It concluded the closing session at RM 3,842 (US$ 813.12) per metric to.

It was the biggest daily decreasing price since 6 October that reached 2,94% during the session.

Here are tenders at KPBN (Rp./Kg), excluded income tax on Tuesday (30/1/2024):

CPO: Franco Dumai Rp. 11.901 (WD) with the highest bid Rp. 11.800-EUP

CPKO: Lampung Rp. 12.156 (WD) with the highest bid Rp. 8.008-KLKD. (T2)

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