CPO Price at KPBN Inacom Tender Increased 0.46% on Friday (15/3), Weekly CPO Prices surged by 3.01%

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CPO Price at KPBN Inacom Tender Increased 0.46% on Friday (15/3), Weekly CPO Prices surged by 3.01%. Photo by: Palmoilmagazine.com

PALMOILMAGAZINE, JAKARTA – On Friday, March 14th, 2024, the crude palm oil (CPO) tender at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom stood at Rp 13,060/kg, marking a Rp 60/kg or approximately 0.46% increase from the previous day’s tender, which was Rp 13,000/kg.

According to information obtained from KPBN by Palmoilmagazine.com, the CPO Franco price in Belawan and Dumai was Rp 13,060/kg, while in Teluk Bayur, it was recorded at Rp 12,930/kg.

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In Lampung, the crude palm kernel oil (CPKO) was priced at Rp 13,889/kg but was withdrawn (WD) with the highest bid at Rp 10,000/kg.

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Based on calculations by Palmoilmagazine.com for the period of March 11th to 15th, 2024, the average CPO tender at KPBN experienced an increase of approximately Rp 378.80/kg, reaching Rp 12,955.00/kg, equivalent to about 3.01% compared to the weekly CPO tender in the previous week (March 4th to 8th, 2024), which was Rp 12,576.20/kg.

While the CPO price at the Malaysia Derivatives Exchange saw a decrease on Friday, March 15th, 2024, it had been increasing for the fourth consecutive week. This trend could be attributed to concerns regarding extreme weather conditions affecting harvests.

As quoted from Reuters, CPO reference contract price with the code FCPOc3 for May 2024 delivery at Malaysia Derivatives Exchange got cheaper RM 9 per ton or about 0,21% to be RM 4.286 (US$ 911,72) in the midday. It increased 4,69% this week.

Here are tenders at KPBN (Rp./Kg), excluded income tax on Friday (15/3/2024):

CPO:

  • Franco Belawan and Dumai Rp. 13.060-MM, IBP
  • Teluk Bayur Rp. 12.930-WNI

 

CPKO: Lampung Rp. 13.889 (WD) with the highest bid Rp. 10.000-AMJP. (T2)

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