CPO Prices at KPBN Inacom Dropped by 0.48% on Friday, June 21, 2024

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CPO Prices at KPBN Inacom Dropped by 0.48% on Friday, June 21, 2024. Photo by: Palmoilmagazine.com

PALMOILMAGAZINE, JAKARTA – The crude palm oil (CPO) tender at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was Rp 12,728/kg on Friday, June 21, 2024. This marks a decrease of Rp 62/kg, or approximately 0.48%, from Thursday’s (June 20, 2024) tender price of Rp 12,790/kg.

According to Palmoilmagazine.com from KPBN Inacom, CPO Franco in Dumai was priced at Rp 12,728/kg. In Belawan, CPO was also Rp 12,728/kg but was withdrawn (WD) with the highest bid at Rp 12,676/kg. In Sei Tapung, CPO was Rp 12,489/kg but was withdrawn with the highest bid at Rp 12,355/kg.

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Meanwhile, crude palm kernel oil (CPKO) in Lampung was Rp 15,966/kg but was withdrawn with the highest bid at Rp 15,000/kg.

Palmoilmagazine.com calculated that from June 17-21, 2024, the average CPO tender at KPBN increased by Rp 88.20/kg to Rp 12,748.00/kg, a rise of about 0.7% compared to the previous week’s (June 10-14, 2024) average of Rp 12,659.80/kg.

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As reported by Reuters, the CPO contract price at the Malaysia Derivatives Exchange on Friday, June 21, 2024, halted its two-day price increase. It was pressured by cheaper vegetable oils and declining export data. The reference contract price for CPO, coded FCPO1 for September 2024 delivery, fell by RM 24 per ton, or approximately 0.81%, to RM 3,927 (US$ 833.23) per metric ton at midday. This represents a 0.43% decline from the previous day’s trade and a 0.5% loss over the week, marking the third consecutive weekly decrease for the contract.

Still from Reuters, soyoil contract price at Dalian with the code DBYcv1 did decrease 0,53%, CPO contract price with the code DCPcv1 did too 0,29%. Soyoil price at Chicago Board of Trade (BOc2) decreased 0,23%.

Palm oil exports from Malaysia on 1-20 June did decrease between 8,1% and 12,9% from 1 – 20 May 2024, as independent inspection company, AmSpec Agri Malaysia and Intertek Testing Services, reported. (T2)

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