PALMOILMAGAZINE, JAKARTA – On Thursday (11/7/2024), the crude palm oil (CPO) tender at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was priced at Rp 12,718/kg, marking an increase of Rp 80/kg or about 0.63% compared to Wednesday’s (10/7/2024) tender price of Rp 12,638/kg.
According to Palmoilmagazine.com, KPBN reported that CPO Franco in Dumai was priced at Rp 12,718/kg. In Belawan, CPO was also priced at Rp 12,718/kg but was withdrawn (WD) with the highest bid at Rp 12,526/kg. Crude palm kernel oil (CPKO) in Lampung was priced at Rp 17,510/kg but was also withdrawn, with the highest bid at Rp 10,203/kg.
Reuters reported that the reference price for CPO on the Malaysia Derivatives Exchange decreased on Thursday (11/7/2024) after the Malaysian government announced that June’s CPO stock had risen to its highest level in the past four months.
Also Read: CPO Prices Declined at KPBN Inacom on July 3, 2024
CPO reference contract with the code FCPOc3 for September 2024 delivery at Malaysia Derivatives Exchange got cheaper RM 7 per ton or about 0,18% to be RM 3.911 (US$ 834,70) in the midday.
Palm oil stock in Malaysia by the late of June 2024 got escalated 4,35% to May to be 1,83 million metric tons, the highest since February 2024. Malaysia Palm Oil Board reported on Wednesday, it had something to do with the decreasing exports significantly to the production.
CPO production got decreased 5,23% from May to be 1,62 million tons while the exports decreased 12,82% to be 1,21 million tons.
The survey from Reuters predicted, the stock could be 1,83 million tons with the production reaching 1,62 million tons and the exports reaching 1,24 million tons.
Here are tenders at KPBN (Rp./Kg), excluded income tax on Thursday (11/7/2024):
CPO:
- Franco Belawan Rp. 12.718 (WD) with the highest bid of Rp. 12.526-PHPO
- Dumai Rp. 12.718-SJIO
CPKO: Lampung Rp. 17.510 (WD) with the highest bid of Rp. 10.203-KLKD. (T2)
