PALMOILMAGAZINE, JAKARTA – On Wednesday (17/4/2024), the tender price for crude palm oil (CPO) at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was Rp 12,460/kg, marking a decrease of Rp 316/kg or approximately 2.47% from the previous day’s tender on Tuesday (16/4/2024), which was Rp 12,776/kg.
According to information obtained by Palmoilmagazine.com from KPBN, the price of CPO Franco in Belawan and Dumai was Rp 12,776/kg. Meanwhile, CPO Franco in Talang Duku was priced at Rp 12,310/kg but was withdrawn (WD) with the highest bid at Rp 12,100/kg. In East Kalimantan, CPO was priced at Rp 12,060/kg.
In Lampung, the price of crude palm kernel oil (CPKO) was Rp 16,107/kg but was withdrawn (WD) with the highest bid at Rp 12,002/kg.
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At the Malaysia Derivatives Exchange, CPO prices decreased for the fourth consecutive session on Wednesday (17/4/2024), dropping to the lowest level in the past six months. This decline was attributed to other vegetable oils being more competitively priced than CPO, leading to a decrease in demand.
As reported by Reuters, the reference contract price for CPO with the code FCPOc3 for July 2024 delivery at the Malaysia Derivatives Exchange decreased by RM 78 per ton or 1.91%, reaching RM 3,996 (US$ 834.24) per metric ton at midday. This marked the lowest level since March 6, 2024.
Here are tenders at KPBN (Rp./Kg), excluded income tax on Wednesday (17/4/2024):
CPO:
- Franco Belawan and Dumai Rp. 12.460-ACI, AGM
- Talang Duku Rp. 12.310 (WD) with the highest bid Rp. 12.100-PRISCOLIN
- Kaltim Rp. 12.060-EUP
CPKO: Lampung Rp. 16.107 (WD) with the highest bid Rp. 12.002-KLK. (T2)
