PALMOILMAGAZINE, JAKARTA – The crude palm oil (CPO) tender at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was withdrawn (WD) with the highest bid at Rp. 13,121/kg on Monday (8/7/2024). This marked a decrease of Rp. 17/kg or approximately 0.13% from the tender on Friday (4/7/2024), which was Rp. 13,138/kg.
According to information obtained by Palmoilmagazine.com from KPBN, the CPO price in Belawan and Dumai was Rp. 13,175/kg, but it was withdrawn with the highest bid at Rp. 13,121/kg. In Talang Duku, the price was Rp. 12,975/kg, but in the withdrawal, it had the highest bid at Rp. 12,921/kg.
As reported by Reuters, the CPO contract price at the Malaysia Derivatives Exchange experienced its best week in the past five weeks, despite a decrease on Friday as traders opted to secure profits ahead of the long weekend.
CPO reference contract price for September 2024 delivery at Malaysia Derivatives Exchange got cheaper RM 27 per ton or about 0.66%, to be RM 4.040 (US$ 858,30) per metric ton in the closing session.
Still from Reuters, it increased by 3,17% in the past week and became the second increasing price in a row. The contract price was getting weaker for profit-taking after the price recovery recently and heading into the long weekend.
Financial markets in Malaysia would be closed on Monday, July 8 July because of holiday. The trade would be happening on Tuesday. Soyoil contract price at Dalian got cheaper by 0.97%; CPO contract price did decrease 1%.
Here are CPO tenders price at KPBN (Rp./kg), excluded income tax on Monday (8/7/2024):
CPO:
- Franco Belawan and Dumai Rp 13.175 – WD, with the highest bid Rp 13.121 – Papai, PII
- Talang Duku: Rp 12.975 (WD), with the highest bid: Rp 12.921 (PII) (T2)
