PALMOILMAGAZINE, JAKARTA – On Wednesday (13/3/2024), the tender price for Crude Palm Oil (CPO) at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom reached Rp 12.805/kg, marking a notable increase of Rp 145/kg or approximately 1.15% compared to the previous Friday’s tender, which stood at Rp 12.660/kg.
According to information obtained by Palmoilmagazine.com from KPBN, CPO prices stood at Rp 12.805/kg in Belawan and Dumai, while in Tapung it was slightly lower at Rp 12.566/kg, with a withdrawal (WD) rate reaching Rp 12.233/kg as the highest bid. In Teluk Bayur, CPO was priced at Rp 12.675/kg.
As for Crude Palm Kernel Oil (CPKO), prices in Lampung reached Rp 13.755/kg, but with a withdrawal (WD) bid at the highest reaching Rp 10.000/kg. In Dumai, CPKO was priced at Rp 13.976/kg, with a withdrawal (WD) bid at the highest reaching Rp 13.510/kg.
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The increase in CPO prices at the Malaysia Derivatives Exchange on Wednesday (13/3/2024) was attributed to the rise in prices of other vegetable oils at Bursa, along with the escalation in crude oil prices, which rendered CPO more appealing as a material for biodiesel production.
As quoted from Reuters, CPO reference contract with the code FCPOc3 for May 2024 delivery at Malaysia Derivatives Exchange got more expensive RM 18 per ton or about 0,44% to be RM 4.147 (US$ 886,11) in the early session.
Here are tenders at KPBN (Rp./Kg), excluded income tax on Wednesday (13/3/2024):
CPO:
- Franco Belawan and Dumai Rp. 12.805-MM, IBP, EOP
- Tapung Rp. 12.566 (WD) with the highest bid Rp. 12.233-IBP
- Teluk Bayur Rp. 12.675-WIRA
CPKO:
- Lampung Rp. 13.755 (WD) with the highest bid Rp. 10.000-AMJP
- Dumai Rp. 13.976 (WD) with the highest bid Rp. 13.510-IBP. (T2)
