PALMOILMAGAZINE, JAKARTA – The crude palm oil (CPO) tender at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was priced at Rp 12,684/kg on Tuesday (25/6/2024), marking a decrease of Rp 73/kg or about 0.57% from Monday’s (24/6/2024) tender price of Rp 12,757/kg.
According to KPBN, CPO Franco in Belawan and Dumai was also priced at Rp 12,684/kg, while palm kernel oil in Belawan was Rp 16,525/kg.
Reuters reported that CPO contract prices at the Malaysia Derivatives Exchange dropped for the third consecutive session on Tuesday (25/6/2024), reaching their lowest level in the past month due to declining demand and cheaper prices of other vegetable oils.
Also Read: CPO Prices at KPBN Inacom and Malaysia Exchange Increased on Thursday (20/6)
The reference CPO contract with the code FCPO1 for September 2024 delivery at the Malaysia Derivatives Exchange fell by RM 37 per ton, or about 0.95%, to RM 3,861 (US$ 820.44) per metric ton in the early session, the lowest level since May 27.
Additionally, Reuters noted that India purchased 500,000 tons of sunflower oil for June 2024 delivery due to competition between suppliers Russia and Ukraine, making it cheaper than soyoil and palm oil.
Palm oil exports from Malaysia in June got decreased. According to the cargo surveyor, the exports from Malaysia got decreased 8,1% and 12,9% from the previous month. It is predicted, on 1 – 25 June, there would be release for the next days.
Soyoil contract price at Dalian with the code DBYcv1 decreased 1,4%, CPO contract price with the code DCPcv1 did too 1,2%. Soyoil price at Chicago Board of Trade BOc2 decreased 0,25%. (T2)
