PALMOILMAGAZINE, JAKARTA – The tender for Crude Palm Oil (CPO) at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) dropped to Rp 11,930/kg on Friday (16/2/2024), marking a decrease of Rp 69/kg or approximately 0.58% from Thursday’s (15/2/2024) price of Rp 11,999/kg.
According to Palmoilmagazine.com, the price of CPO Franco in Belawan and Dumai stood at Rp 11,930/kg, while in Talang Duku it was Rp 11,730/kg. Meanwhile, Crude Palm Kernel Oil (CPKO) in Lampung was priced at Rp 12,404/kg, but during withdrawal (WD), it received the highest bid at Rp 7,300/kg. In Palembang, CPKO was priced at Rp 12,261/kg, but during withdrawal, the highest bid reached Rp 11,875/kg.
Palmoilmagazine.com analysis from February 12th to February 16th, 2024, indicates that the average tender price of CPO at KPBN increased by approximately Rp 190.25/kg, reaching Rp 11,865.25/kg, or about 1.63% compared to the average tender price in the previous week (February 5th to February 9th, 2024), which was Rp 11,675.00/kg.
Also Read : India’s Palm Oil Imports dropped to the lowest level in Three Months
CPO price at Malaysia Derivatives Exchange prolonged its loss on Friday (16/2/2024) because the decreasing exports from the country significantly though soyoil got more expensive and restricted the loss.
As quoted from Reuters, CPO reference contract with the code FCPOc3 for May 2024 delivery at Malaysia Derivatives Exchange got cheaper RM 16 per ton or about 0,42% to be RM 3.805 (US$ 796,36) per ton.
Here are tenders at KPBN (Rp./Kg), excluded income tax on Friday (16/2/2024):
CPO:
- Franco Belawan and Dumai Rp. 11.930-PPI, IBP
- Talang Duku Rp. 11.730-PII
CPKO:
- Lampung Rp. 12.404 (WD) with the highest bid Rp.7.300-SIP
- Palembang Rp. 12.261 (WD) with the highest bid Rp. 11.875-IKIN. (T2)
