PALMOILMAGAZINE, JAKARTA – The tender for crude palm oil (CPO) at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom stood at Rp 13,305/kg on Thursday (21/3/2024), with the highest bid reaching Rp 13,280/kg. This marked an increase of Rp 30/kg or approximately 0.23% compared to Wednesday’s (20/3/2024) tender, which was Rp 13,250/kg.
According to information obtained by Palmoilmagazine.com from KPBN, the prices of CPO Franco varied across different locations. In Dumai, CPO Franco was priced at Rp 13,305/kg but was withdrawn (WD) with the highest bid at Rp 13,280/kg. Similarly, in Kuala Tanjung, CPO Franco was priced at Rp 13,305/kg but was also in WD with the highest bid at Rp 13,275/kg. Meanwhile, CPO in Talang Duku was priced at Rp 13,155/kg but was in WD with the highest bid at Rp 13,080/kg. In Tayan, CPO was priced at Rp. 12,955/kg.
On the other hand, CPO prices in the Malaysia Derivatives Exchange experienced a decline on Thursday (21/3/2024). This reversal came after a period of price increases driven by production uncertainties and corrections in the prices of other vegetable oils.
Also Read:
- CPO Prices at KPBN Inacom Jumped 1.15 Percent on Wednesday (20/3) and Similarly on Malaysian Exchanges
- CPO Price at KPBN Inacom and Bursa Malaysia Decreased on Tuesday (19/3)
- CPO Prices at KPBN Inacom Increased 0,46 Percent on Monday (18/3), Likewise on Bursa Malaysia
- CPO Price at KPBN Inacom Tender Increased 0.46% on Friday (15/3), Weekly CPO Prices surged by 3.01%
- CPO Prices Surge 1.52% at KPBN Inacom Tender on Thursday (14/3), Mirroring Increase in Malaysia Exchange
- CPO Price at KPBN Inacom Tender Surged 1,15 Percent on Wednesday (13/3)
As quoted from Reuters, CPO reference contract with the code FCPOc3 for June 2024 delivery at Malaysia Derivatives Exchange decreased 0,54% to be RM 4.249 (US$ 901,55) per metric ton after it increased 0,96% in the day before.
Here are tenders at KPBN (Rp./Kg), excluded income tax on Thursday (21/3/2024):
CPO:
- Franco KualaTanjung Rp. 13.305 (WD) with the highest bid Rp. 13.275-PPI
- Dumai Rp. 13.305 (WD) with the highest bid Rp. 13.280-PII
- Talang Duku Rp. 13.155 (WD) with the highest bid Rp. 13.080-PII
- Tayan Rp. 12.955-EUP. (T2)
