PALMOILMAGAZINE, JAKARTA – The price of crude palm oil (CPO) at PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was set at Rp 11,978/kg on Friday (3/5/2024), thus the CPO price recorded a decrease of Rp 72/kg, or a decrease of around 0.60% compared to the CPO price on Thursday (2/4/2024) which reached Rp 12,050/kg.
From information obtained by Palmoilmagazine.com from KPBN, the price of CPO Franco Belawan & Dumai was set at Rp 11,978/kg. The price of CPO in Talang Duku was set at Rp 11,778/kg. The CPO price at Teluk Bayur was set at IDR 11,848/Kg.
CPO price in Ophir opened at IDR 11,683/Kg but there was a withdrawal (WD) with the highest bid of IDR 11,557/Kg. The price of CPO at Kembayan opened at IDR 11,628/Kg but there was a withdrawal (WD) with the highest bid of IDR 6,500/Kg. While the price of palm kernel oil (CPKO) in Lampung opened at IDR 15,296/Kg but there was a withdrawal (WD) with the highest bid of IDR 7,350/Kg.
Also Read:
- CPO Price at KPBN Inacom by 1.35% Declined on Tuesday (30/4), Mirrored in Malaysia
- CPO Tender at KPBN Inacom and Malaysia Exchange Decreased on Thursday (2/5)
- CPO Price at KPBN Inacom Rised by 0.78% on Monday (29/4), Mirroring Malaysia Increase
- CPO Price at KPBN Inacom Increases by 0.94% on Friday (26/4); Weekly Price Declines by 2.51%
Referring to Palmoilmagazine.com calculation, in the period April 29-May 3, 2024, the average price of KPBN CPO was recorded to have slipped from Rp. 125.15/kg to Rp. 12,078.25/kg, or there was a decrease of around 1.03% compared to the average price of CPO in the previous week’s period (April 22–26, 2024), which reached Rp. 12,203.40/kg.
CPO prices on the Malaysian exchange also recorded a decline. The price of the benchmark palm oil contract for July 2024 delivery on the Bursa Malaysia Derivatives Exchange fell by RM 20 per ton or 0.52%, to RM 3,826 (US$ 808.37) per metric ton in early trade. The contract has so far fallen about 1.8% in the past week.
Also Read:
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- European Union’s Intensified SAF Regulation:Excludes Palm Oil and Soyoil
- SPKS Calls for Support from Elected President and Vice President for Sustainable Smallholders
- Insights into April 2024: Palm Oil Price Trends and Market Dynamics
- Shifting the Narrative on Palm Oil and Deforestation: Insights from ‘Not the End of the World’
According to Reuters, soybean oil prices on the Chicago Board of Trade fell 0.79%. The Dalian Commodity Exchange is closed until May 5 for the International Labor Day holiday.
According to information from five dealers to Reuters, palm oil imports in India, the world’s largest vegetable oil importer, jumped 41% in April from the previous month to the highest level in three months, as easing prices prompted refiners to increase purchases.
The following are the details of the KPBN tender results (Rp./kg), excl. VAT, for the period Friday (3/5/2024):
CPO:
- Franco Belawan & Dumai Rp. 11,978-MM, ACI, AGM, IBP
- Talang Duku IDR 11,778-PRISCOLIN
- Teluk Bayur IDR 11,848-WIRA
- Ophir Rp. 11,683 (WD). Highest bid: Rp. 11,557-WIRA
- Kembayan Rp. 11,628 (WD). Bid Rp. 6,500-DKSD, SDS.
CPKO:
- Lampung IDR 15,296 (WD). Highest bid Rp. 7,350-SIP. (T2)
