Palm Oil Magazine - CPO Price at KPBN Inacom Drops 0.23% on Thursday (28/3), Weekly Price Declines 0.61%

PALMOILMAGAZINE, JAKARTA – The price of crude palm oil (CPO) at PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom stood at Rp 12,980/kg on Thursday (28/3/2024), indicating a decline of Rp 30/kg or around 0.23% compared to the price on Wednesday (27/3/2024), which stood at Rp 13,010/kg.

According to information from KPBN, the price of CPO Franco in Belawan and Dumai was IDR 12,980/kg. Meanwhile, the price of Franco CPO in Talang Duku was offered at Rp 13,830/kg, but was withdrawn (WD) with the highest bid at Rp 12,780/kg. Similarly, the price of Franco CPO in East Kalimantan was at IDR 12,580/kg but was withdrawn (WD) with the highest bid at IDR 12,000/kg.

Palmoilmagazine.com analysis shows that during the period of March 25-29, 2024, the average CPO price decreased by around Rp 80.95/kg to Rp 13,101.25/kg, a decrease of around 0.61% compared to the average CPO price in the previous week (March 18-22, 2024) which amounted to Rp 13,182.20/kg.

Also Read:
CPO Prices at KPBN Inacom and Bursa Malaysia Fall on Wednesday (27/3)
CPO Price at KPBN Inacom Declined on Tuesday (26/3), While the Malaysian Exchange Increased
CPO Price at KPBN Inacom Rise 0.41% on Monday (25/3), Mirrored in Malaysia Exchange
CPO Tender at KPBN Inacom Withdrawn on Friday (22/3), Weekly Increase of 1.75%
CPO Price at KPBN Inacom was Withdrawn on Thursday (21/3) and the Malaysian Exchange got Cheaper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

Indonesian Palm Oil Association (IPOA) told that CPO production in January 2024 increased to the previous month that reached 4.232 thousand tons or increased 5,91% from 3.996 thousand tons in December 2023. Palm kernel oil production also increased about 5,91% from 380 thousand tons in December 2023 to be 402 thousand tons in January 2024.

Here are tenders at KPBN (Rp./Kg), excluded income tax on Thursday (28/3/2024):

CPO: