PALMOILMAGAZINE, JAKARTA – The tender for Crude Palm Oil (CPO) at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom on Friday (22/3/2024) was Rp 13.214/kg, with the highest bid at Rp 13.161/kg. This reflects a decrease of Rp 119/kg, or approximately 0.90%, compared to Thursday (21/3/2024) when it stood at Rp 13.280/kg.
According to information from Palmoilmagazine.com, CPO Franco in Dumai was priced at Rp 13.214/kg but was withdrawn (WD) with the highest bid at Rp 13.161/kg. Similarly, CPO Franco in Talang Duku was priced at Rp 13.064/kg but was withdrawn with the highest bid at Rp 12.945/kg.
Between March 18th and 22nd, 2024, Palmoilmagazine.com calculated that the average CPO tender at KPBN increased by approximately Rp 227.20/kg, reaching Rp 13,182.20/kg, representing a rise of about 1.75% compared to the average CPO tender in the previous week (11 – 15 March 2024) which was Rp 12,955.00/kg.
Also Read:
- CPO Price at KPBN Inacom was Withdrawn on Thursday (21/3) and the Malaysian Exchange got Cheaper
- 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
The price of CPO at the Malaysia Derivatives Exchange experienced a decline on Friday (22/3/2024), marking the first weekly loss in the past five weeks. This occurred as palm oil underwent consolidation following recent bullish trends, while crude oil and food oil experienced decreases, contributing to the overall reduction in price.
As quoted from Reuters, CPO reference contract with the code FCPOc3 for June 2024 delivery at Malaysia Derivatives Exchange got cheaper RM 62 per ton or about 1,46% to be RM 4.187 (US$ 884,27) per metric ton in the closing session and the lowest numbers since 13 March 2024.
Here are tenders at KPBN (Rp./Kg), excluded income tax on Friday (22/3/2024):
CPO:
- Franco Dumai Rp. 13.214/kg withdraw (WD) with the highest bid Rp. 13.161/kg-IBP
- Talang Duku Rp. 13.064/Kg (WD) with the highest bid Rp. 12.945/kgg-WNI. (T2)
