PALMOILMAGAZINE, JAKARTA – The crude palm oil (CPO) tender at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom stood at Rp 12,660/kg on Friday (8/3/2024), marking an improvement of Rp 65/kg or approximately 0.52% compared to the previous Thursday’s tender, which was Rp 12,595/kg.
According to information obtained by Palmoilmagazine.com from KPBN, the price of CPO Franco in Belawan and Dumai was Rp 12,660/kg, while in Palembang, it was Rp 12,510/kg. The crude palm kernel oil (CPKO) in Lampung was priced at Rp 13,682/kg, with a withdrawal (WD) price reaching up to Rp 10,000/kg. In Dumai, CPKO was priced at Rp 13,903/kg, with a WD bid of Rp 13,360/kg.
From the data collected by Palmoilmagazine.com between 4th and 8th March 2024, the average CPO price at KPBN surged by Rp 288.20/kg, reaching Rp 12,576.20/kg, representing a 2.35% increase compared to the average CPO price of the previous week (26th February – 1st March 2024), which was Rp 12,288.00/kg.
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- CPO Price at KPBN Tender Rises 0.69 Percent on Wednesday (6/3)
- CPO Prices at KPBN Tender Rise 0.76%, While Malaysian Exchanges Fall on Tuesday (5/3)
- CPO Prices at KPBN Tender Decreased on Monday (4/3), Market Remains Stagnant
- CPO Prices at KPBN Tender Surge by 0.52% on Friday (1/3) Reflecting Weekly Increase of 1.59%
- CPO Prices at KPBN Tender Increased by 0.81% on Thursday (29/2)
- CPO Prices Surge 0.74% at KPBN Tender on Wednesday (28/2) and Follow Suit at Malaysia Exchange
- CPO Price at KPBN Tenders Increased 0.78% on Tuesday (27/2), Mirrored in Malaysian Exchange
Meanwhile. the CPO price at the Malaysia Derivatives Exchange also experienced an increase on Friday (8/3/2024), signaling a trend towards weekly price escalation driven by the rising cost of crude oil, despite the stabilizing effect of the strengthening Malaysia ringgit.
As quoted from Reuters, CPO reference contract price with the code FCPOc3 for May 2024 delivery at Malaysia Derivatives Exchange got more expensive RM 13 per ton or about 0,32%, to be RM 4.084 per metric ton in the midday.
Here are tenders at KPBN (Rp./Kg), excluded income tax on Friday (8/3/2024):
CPO:
- Franco Belawan and Dumai Rp. 12.660-PHPO, PAA, WNI
- Palembang Rp. 12.510-MM
CPKO:
- Lampung Rp. 13.682 (WD) with the highest bid Rp. 10.000-AMJP
- Dumai Rp. 13.903 (WD) with the highest bid Rp. 13.360-IBP. (T2)
