PALMOILMAGAZINE, JAKARTA – Crude palm oil (CPO) tender at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was priced at Rp. 12,638/kg on Wednesday, July 10, 2024. This marked a decrease of Rp. 250/kg, or about 1.94%, compared to the previous day’s tender on July 9, 2024, which was Rp. 12,888/kg.
According to Palmoilmagazine.com from KPNBN Inacom CPO Franco Belawan was priced at Rp. 12,638/kg, while CPO in Teluk Bayur was Rp. 12,415/kg. Crude palm kernel oil (CPKO) in Lampung was listed at Rp. 17,273/kg but was withdrawn (WD) with the highest bid at Rp. 14,000/kg.
As reported by Reuters, palm oil stock in Malaysia rose to the highest level in the past four months as of June 2024. This increase was due to a significant decrease in exports, according to industrial regulators on Wednesday.
Also Read: CPO Prices Declined at KPBN Inacom on July 3, 2024
The rising stock levels in Malaysia, the world’s second-largest palm oil producer after Indonesia, exerted pressure on palm oil trading on the Malaysia Derivatives Exchange, which saw a decline of more than 4% over two days.
The stock in the country by the late of June 2024 got escalated 4,35% from May to be 1,83 million metric tons; the highest numbers since February, according to Malaysian Palm Oil Board (MPOB). Meanwhile, CPO production got decreased 5,23% from May to be 1,62 million tons; palm oil exports did too 12,82% to be 1,21 million tons,
Still from Reuters’ survey, it was predicted the stock could be reaching 1,83 million tons with the output about 1,62 million tons, and the exports reaching 1,24 million tons.
Here are tenders at KPBN (Rp./Kg), excluded income tax on Wednesday (10/7/2024):
CPO:
- Franco Belawan Rp. 12.638-UNILEVER
- Teluk Bayur Rp. 12.415-WNI
CPKO: Lampung Rp. 17.273 (WD) with the highest bid Rp. 14.000-AMJP. (T2)
