CPO Prices at KPBN Inacom and Malaysian Exchange Rose on Tuesday (28/5)

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The CPO price recorded an increase of Rp 201/kg, or an increase of around 1.65% compared to the CPO price on Monday (27/5/2024) which reached Rp 12,188/kg.. Photo by: Palmoilmagazine.com

PALMOILMAGAZINE, JAKARTA – The price of crude palm oil (CPO) at PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was set at Rp 12,389/kg on Tuesday (28/5/2024), thus the CPO price recorded an increase of Rp 201/kg, or an increase of around 1.65% compared to the CPO price on Monday (27/5/2024) which reached Rp 12,188/kg.

From information obtained by Palmoilmagazine.com from KPBN, the CPO Franco Belawan & Dumai price was set at Rp 12,389/kg. Meanwhile, the price of palm kernel oil (CPKO) in Dumai was set at IDR 16,215/kg, excluding Value Added Tax.

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Similarly, CPO prices on the Malaysian Exchange recorded an increase. Malaysian palm oil futures surged on Tuesday, (28/5/2024), after falling for two consecutive sessions, as surging prices of other vegetable oils on the Dalian and Chicago Exchanges and improved export prospects supported the market.

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The price of the benchmark palm oil contract coded FCPOc3 for August 2024 delivery on the Bursa Malaysia Derivatives Exchange rose RM 76 per tonne, or about 1.96%, to RM 3,946 (US$ 841.54) per metric tonne at midday break, as quoted from Reuters.

Then the price of soybean oil contract on the Dalian Exchange coded DBYcv1, recorded an increase of 1.63%, while the price of palm oil contract coded DCPcv1 hoisted 2.07%. The price of soybean oil on the Chicago Board of Trade BOcv1 rose 0.73%. (T2)

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