CPO Price Drop at KPBN Inacom on Friday (5/7), Weekly Prices Show Increase

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CPO Price Drop at KPBN Inacom on Friday (5/7), Weekly Prices Show Increase. Photo by: Palmoilmagazine.com

PALMOILMAGAZINE, JAKARTA – The crude palm oil (CPO) tenders at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom were withdrawn (WD) on Friday, July 5, 2024, with the highest bid at Rp. 13,138/kg. This represents a decrease of Rp. 87/kg, or about 0.66%, compared to the tender on Thursday, July 4, 2024, which was Rp. 13,225/kg.

According to Palmoilmagazine.com, KPBN reported that CPO Franco in Belawan and Dumai was listed at Rp. 13,200/kg but was withdrawn with the highest bid at Rp. 13,138/kg.

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Meanwhile, crude palm kernel oil (CPKO) in Lampung was listed at Rp. 17,292/kg, but was also withdrawn with the highest bid at Rp. 7,250/kg.

Also Read: CPO Price at Malaysia Exchange got Cheaper and Cheaper on Friday (8/9/2023)

Palmoilmagazine.com calculated that from July 1 to July 5, 2024, the average CPO tender price at KPBN increased by approximately Rp. 382.60/kg, reaching Rp. 13,143.60/kg. This marks a rise of about 3% compared to the previous period from June 24 to June 28, 2024, which had an average price of Rp. 12,761.00/kg.

As quoted from Reuters, CPO contract price at Malaysia Derivatives Exchange got decreased as other vegetable oils did too at Dalian Exchange on Friday (5/7/2024). But the weekly price got increase and became the second weekly increasing price in a row when many concerned about the decreasing production.

CPO reference contract price for September 2024 delivery at Malaysia Derivatives Exchange got cheaper RM 7 per ton or about 0,17% to be RM 4.060 (US$ 862,73) per metric ton in the early session. The contract price got escalated about 3,58% in the past week.

Here are tenders at KPBN (Rp./Kg), excluded income tax on Friday (5/7/2024):

CPO: Franco Belawan and Dumai Rp. 13.200 (WD) with the highest bid Rp. 13.138-KJA

CPKO: Lampung Rp. 17.292 (WD) with the highest bid Rp. 7.250-SIP. (T2)

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