CPO Price at KPBN Inacom Increased by 0.77 Percent on Friday (28/6), and Weekly Prices Also Rose

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CPO Price at KPBN Inacom Increased by 0.77 Percent on Friday (28/6), and Weekly Prices Also Rose. Illustration by: Palmoilmagazine.com

PALMOILMAGAZINE, JAKARTA – The tender for crude palm oil (CPO) at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was Rp 12,856/kg on Friday (28/6/2024), representing an increase of Rp 138/kg or about 0.77% compared to Thursday’s (27/6/2024) tender price of Rp 12,718/kg.

According to Palmoilmagazine.com, KPBN reported that CPO Franco in Kuala Tanjung and Dumai was priced at Rp 12,856/kg. Meanwhile, crude palm kernel oil (CPKO) in Lampung was Rp 16,731/kg but was withdrawn (WD) with the highest bid at Rp 14,000/kg.

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Palmoilmagazine.com also noted that between June 17 and 21, 2024, the average CPO tender price increased by Rp 13.00/kg to reach Rp 12,761.00/kg, or about 0.10% higher than the previous week’s average tender price of Rp 12,748.00/kg.

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As quoted from Reuters, CPO reference contract price at Malaysia Derivatives Exchange got escalated for the third day on Friday (28/6/2024). It might happen to stop the decreasing price for the past three weeks. It also happened for the concern about the decreasing production and the increasing other vegetable oils price.

CPO reference contract price for September delivery at Malaysia Derivatives Exchange got escalated RM 36 per ton or about 0,93% to be RM 3.926 (US$ 832,49) per metric ton in the early session.

Here are tenders at KPBN (Rp./Kg), excluded income tax on Friday (28/6/2024):

CPO: Franco Kuala Tanjung and Dumai Rp. 12.856-MM, IBP

CPKO: Lampung Rp. 16.731 (WD) with the highest bid Rp. 14.000-AMJP. (T2)

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