PALMOILMAGAZINE, JAKARTA – The price of crude palm oil (CPO) at PT Kharisma Pemasaran Bersama Nusantara (KPBN) was set at Rp 12,200/kg on Wednesday (21/2/2024), thus the CPO price recorded an increase of Rp 95/kg, or an increase of around 0.78% compared to the CPO price on Tuesday (20/2/2024) which reached Rp 12,105/kg.
From information obtained by Palmoilmagazine.com from KPBN, the CPO Franco Belawan and Dumai prices were set at Rp 12,200/kg. Meanwhile, the CPO price in Talang Duku was opened at Rp 12,000/Kg but there was a withdrawal (WD) with the highest bid at Rp 11,965/Kg.
While the price of palm kernel oil (CPKO) in Lampung region opened at Rp. 12,459/kg, but there was a withdrawal (WD) with the highest bid of Rp. 7,500/Kg. The price of CPKO in the Palembang region was set at IDR 12,316 / kg.
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Palm oil prices on Bursa Malaysia recorded an increase. The price of palm oil futures on Bursa Malaysia rose on Wednesday, (21/2/2024), following the strengthening of the price of palm oil contracts on the Dalian Exchange and soybean prices on the Chicago Exchange, although export data recorded weakening limited the increase.
As reported by Reuters, the price of the benchmark palm oil contract coded FCPOc3 for May 2024 delivery on the Bursa Malaysia Derivatives Exchange rose RM 40 per tonne or about 1.04%, to RM 3,900 (US$ 812.67) per metric tonne in early trade.
The price of soybean oil contracts on the Dalian Commodity Exchange coded DBYv1 fell 0.11%, while the price of palm oil contracts coded DCPv1 rose 0.82%. Then the price of soybeans on the Chicago Board of Trade BOc2 Exchange rose 0.4%.
The following are the details of the KPBN Tender results (Rp./Kg), Excld VAT for the period Wednesday (21/2/2024):
CPO:
- Franco Belawan & Dumai Rp. 12,200-MM, IBP, UNILEVER
- Talang Duku IDR 12,000 (WD).highest bid IDR 11,965-PII
CPKO:
- Lampung IDR 12,459 (WD). Highest offer IDR 7,500-SIP
- Palembang Rp. 12,316-IKIN. (T2)
