PALMOILMAGAZINE, JAKARTA – On Friday (2/2/2024), the tender for Crude Palm Oil (CPO) at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) stood at Rp 11,636/kg, marking an increase of Rp 4/kg or approximately 0.03% compared to the Thursday (1/2/2024) tender, which was Rp 11,632/kg.
As per information obtained from KPBN by Palmoilmagazine.com, the CPO Franco prices were Rp 11,636/Kg in Belawan and Dumai. However, in withdrawal (WD), the highest bid for CPO in Belawan was Rp 11,535/Kg.
Additionally, Crude Palm Kernel Oil (CPKO) in Lampung was priced at Rp 12,332/Kg, but in withdrawal (WD), the highest bid was Rp 7,405/Kg.
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Palmoilmagazine.com calculations for the period from January 29 to February 2, 2024, revealed a decrease in the average CPO price by approximately Rp 382.60/kg, resulting in a new average of Rp 11,785.40/kg. This represents a decline of about 3.14% compared to the previous week (22 – 26 January 2023) with an average price of Rp 12,168/kg.
Furthermore, at the Malaysia Derivatives Exchange, the CPO price experienced a decline in the fourth session on Friday (2/2/2024), marking the worst week in the last nine months. This downturn was attributed to Indian traders importing cheaper vegetable oils, contributing to the overall decrease in CPO prices.
As quoted from Reuters, CPO reference contract price with the code FCPOc3 for April 2024 delivery at Malaysia Derivatives Exchange got cheaper RM 18 per ton or about 0,47% to be RM 3.780 (US$ 799,83) per metric ton in the launch break.
Here are tenders at KPBN (Rp./Kg), excluded income tax on Friday (2/2/2024):
CPO:
- Franco Belawan Rp. 11.636-ACI
- Dumai Rp. 11.636 (WD) with the highest bid Rp. 11.535-SJIO
CPKO: Lampung Rp. 12.332 (WD) with the highest bid Rp. 7.405-SIP. (T2)
