Palm Oil Magazine - CPO Price at KPBN Tender Rises 0.69 Percent on Wednesday (6/3)

PALMOILMAGAZINE, JAKARTA – The tender price for Crude Palm Oil (CPO) at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom rose to Rp 12,631/kg on Wednesday (6/3/2024), marking an increase of Rp 86/kg or approximately 0.69% compared to Tuesday’s (5/3/2024) tender, which stood at Rp 12,545/kg.

According to information obtained by Palmoilmagazine.com from KPBN, the price of CPO Franco in Belawan and Dumai was Rp 12,631/kg. In East Kalimantan, it was Rp 12,231/kg, but in withdrawal (WD) mode with the highest bid at Rp 12,100/kg. Meanwhile, CPO in West Kalimantan was priced at Rp 12,281/kg, but in WD with the highest bid at Rp 11,700/kg.

As for Crude Palm Oil Kernel (CPKO), the price in Lampung was Rp 13,419/kg, but in WD with the highest bid at Rp 7,300/kg. In Dumai, it was Rp 13,640/kg, but in WD with the highest bid at Rp 13,305/kg.

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CPO Prices at KPBN Tender Increased by 0.81% on Thursday (29/2)

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CPO Price at KPBN Tenders Increased 0.78% on Tuesday (27/2), Mirrored in Malaysian Exchange

Additionally, the CPO price at the Malaysia Derivatives Exchange recorded a consecutive increase for the second session, reaching the highest level in over seven months on Wednesday (6/3/2024). This surge was attributed to limited supply and optimism regarding palm oil demand, while other vegetable oils experienced price hikes.

As quoted from Reuters, CPO reference contract with the code FCPOc3 for May 2024 delivery at Malaysia Derivatives Exchange increased RM 95 per ton or about 2,38% to be RM 4.081 (US$ 862,79) per metric ton in the closing session.

Here are tenders at KPBN (Rp./Kg), excluded income tax on Wednesday (6/3/2024):

CPO: