PALMOILMAGAZINE, JAKARTA – The tender for Crude Palm Oil (CPO) at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was initially priced at Rp 12,116/kg but was withdrawn with the highest bid at Rp 12,051/kg on Monday (13/5/2024). This indicates a decrease of Rp 104/kg or approximately 0.86% compared to the tender on Wednesday (8/5/2024) which was Rp 12,155/kg.
According to Palmoilmagazine.com, the price of CPO Franco in Belawan and Dumai was Rp 12,116/kg but was withdrawn with the highest bid at Rp 12,051/kg. In Teluk Bayur, it was priced at Rp 11,916/kg but the highest bid during withdrawal was Rp 11,850/kg.
Additionally, in Teluk Bayur, it was priced at Rp 11,986/kg. Meanwhile, CPO in Kembayan was priced at Rp 11,766/kg but during withdrawal, the highest bid was Rp 10,800/kg.
Also Read: CPO Price at KPBN Inacom Drops Again on Friday (3/5), Weekly CPO Price Down 1.03 Percent
The price of CPO at the Malaysia Derivatives Exchange increased on Monday, May 13, 2024. This upward trend in price was consistent with the increase observed in other vegetable oils at the Dalian and Chicago Board of Trade (CBOT), while traders remained cautious as they awaited export data and other developments.
As reported by Reuters, the reference contract price for CPO with the code FCPOc3 for July 2024 delivery at the Malaysia Derivatives Exchange increased by RM 65 per ton, or approximately 1.71%, reaching RM 3,874 (US$ 816.61) per metric ton at midday.
The contract price for Soyoil at Dalian with the code DBYcv1 increased by 1.58%, while the contract price for CPO with the code DCPcv1 also increased by 1.61%. Furthermore, the price of Soyoil at CBOT with the code BOcv1 saw a 0.9% escalation.
Here is the CPO price at KPBN (Rp./kg), excluded income tax on Monday, May 13, 2024:
- Franco Belawan and Dumai, Rp. 12.116 (WD) with the highest bid Rp. 12.051-PHPO, PAA
- Talang Duku Rp. 11.916 (WD) with the highest bid Rp. 11.850-PRISCOLIN
- Teluk Bayur Rp. 11.986-WNI
- Kembayan Rp. 11.766 (WD), with the highest bid Rp. 10.800-DKSD. (T2)
