CPO Price at KPBN Inacom Increased by 1.12 Percent on Monday, July 1, 2024

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CPO Price at KPBN Inacom Increased by 1.12 Percent on Monday, July 1, 2024. Photo by: Palmoilmagazine.com

PALMOILMAGAZINE, JAKARTA – On Monday, July 1, 2024, the crude palm oil (CPO) tender at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was priced at Rp 13,000/kg. This represents an increase of Rp 144/kg, or about 1.12%, from the previous Friday’s tender price of Rp 12,856/kg.

According to Palmoilmagazine.com, KPBN reported that CPO Franco prices in Belawan and Dumai were also Rp 13,000/kg.

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Reuters reported that the CPO contract price on the Malaysia Derivatives Exchange rose on Monday, July 1, 2024, marking the fourth consecutive session of price increases. The price surge was driven by concerns over low production and rising prices of other vegetable oils.

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

The reference CPO contract price for September 2024 delivery, coded FCPO1, on the Malaysia Derivatives Exchange increased by RM 55 per ton, or about 1.40%, reaching RM 3,971 (US$ 842.38) per metric ton in the early session.

Still from Reuters, soyoil contract price at Dalian with the code DBYcv1 got escalated 0,79%, CPO contract price with the code DCPcv1 did too 2,01%. Soyoil price at Chicago Board of Trade (BOcv1) got escalated 1,23%.

Cargo surveyor, Intertek Testing Services claimed palm oil exports from Malaysia in June 2024 got decreased 11,8% to be 1.306.689 tons from May exports that reached 1.481.916 tons. (P2)

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