PALMOILMAGAZINE, JAKARTA – The price of crude palm oil (CPO) at PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was set at Rp 12,363/kg on Tuesday (23/4/2024), thus the CPO price recorded an increase of Rp 181/kg, or an increase of around 1.49% compared to the CPO price on Monday (22/4/2024) which reached Rp 12,182/kg.
From information obtained by Palmoilmagazine.com from KPBN, the price of CPO Franco Belawan was set at Rp 12,363/kg. The price of Talang Duku CPO was opened at Rp 12,163/Kg but there was a withdrawal (WD) with the highest bid of Rp 12,050/Kg. And the price of Kembayan CPO opened at IDR 12,013/Kg but there was a withdrawal (WD) with the highest bid of IDR 6,500/Kg.
Meanwhile, CPO prices on the Malaysian exchange recorded an increase. The price of the benchmark palm oil contract for July 2024 delivery on the Bursa Malaysia Derivatives Exchange rose RM 66 per ton or about 1.67%, to RM 4,010 (US$ 839.61) per metric ton at the midday break.
Also Read:
- Withdrawal of CPO Tender at KPBN Inacom: Highest Bid Reaches Rp 12.182/kg on Monday (22/4)
- CPO Price at KPBN Inacom Decreased by 0.78 on Friday (19/4), Weekly CPO Tender Saw a 6.11% Decline
- CPO Price at KPBN Inacom Withdrawn on Thursday (18/4), Malaysia Exchange Sees Increase
- CPO Price at KPBN Inacom and Malaysia Exchange on Wednesday (17/4) Decrease
- CPO Prices Decline by 3.98% at KPBN Inacom on Tuesday (16/4), Similar Trend Seen in Malaysia Exchange
- CPO Price at KPBN Inacom Records 0.92% Decreased on Friday (5/4), Weekly Price Sees 1.76% Increase
According to Reuters, soybean oil contract prices on the Dalian Exchange rose 2.52%, while palm oil contract prices increased 2.09%. Then the price of soybean oil on the Chicago Board of Trade rose 0.92%.
Palm oil made gains amid forecasts of higher production and weaker oil prices. Meanwhile, soybean oil prices rose amid rising soybean prices following concerns over soybean crop conditions in Argentina and the emergence of attacks on vegetable oil commodity ports in Ukraine.
The following are the details of KPBN CPO Tender results (Rp./Kg), Excld VAT for the period Tuesday (23/4/2024):
- Franco Belawan Rp. 12,363-ACI, AGM
- Talang Duku Rp. 12,163 (WD). Highest bid Rp. 12,050-PRISCOLIN
- Kembayan Rp. 12,013 (WD). Bid Rp. 6,500-DKSD, SDS, BTI. (T2)
