PALMOILMAGAZINE, JAKARTA – The tender price of crude palm oil (CPO) at PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was withdrawn (WD) with the highest bid of Rp. 12,738 / kg on Wednesday (17/7/2024), thus the price of CPO was recorded to increase by Rp. 50 / kg, or there was an increase of about 0.39% compared to the price of CPO on Tuesday (16/7/2024) which reached Rp. 12,688 / kg.
From the information obtained by Palmoilmagazine.com from KPBN, the price of CPO Franco Belawan & Dumai was set at IDR 12,7388 / kg. The price of CPO in Teluk Bayur was set at Rp. 12,608/Kg. Then the price of CPO in Talang Duku was set at IDR 12,538/Kg.
The price of CPO in Kembayan opened at Rp. 12,288/Kg, but there was a withdrawal (WD) with the highest bid of Rp. 12,235/Kg. CPO price in Parindu opened at Rp. 12,388/Kg, but there was a withdrawal (WD) with the highest bid of Rp. 12,235/Kg.
Also Read: CPO Price at KPBN Inacom Fell 1.78% on Tuesday, July 9, 2024
The price of palm oil kernel (CPKO) in Lampung opened at IDR 17,762/Kg, but there was a withdrawal (WD) with the highest offer of IDR 14,000/Kg.
While reported by Reuters, the price of palm oil futures on the Malaysian Exchange rose for the second consecutive session on Wednesday, (17/7/2024) supported by higher export estimates from Malaysian palm oil producers, although the strengthening of the ringgit limited the increase.
The price of the benchmark FCPOc3 palm oil contract for October 2024 delivery on the Bursa Malaysia Derivatives Exchange closed up RM 9 per ton or about 0.23% higher to RM 3,934 (US$ 844.21) per metric ton.
Referring to reports by cargo surveyors Intertek Testing Services and AmSpec Agri, Malaysian palm oil product exports on July 1–15 rose between 65.9% and 75.6% compared to the previous month.
Still reported by Reuters, the price of the most active soybean oil contract in Dalian coded DBYcv1, rose 0.47%, while the palm oil contract, coded DCPcv1, rose 1.44%. The price of soybean oil on the Chicago Board of Trade BOcv1 rose 0.27%.
The following are the details of the KPBN Tender results (Rp./Kg), Excld VAT for the period Wednesday (17/7/2024):
CPO:
- Franco Belawan & Dumai Rp. 12,738-MM, IBP
- Teluk Bayur IDR 12,608-WIRAo
- Talang Duku Rp. 12,538-PII
- Kembayan Rp. 12,288 (WD). Highest bid Rp. 12,235-WNI
- Parindu Rp. 12,388 (WD). The highest bid is IDR 12,235-Indonesian
CPKO: Lampung IDR 17,762 (WD). The highest bid is Rp. 14,000-AMJP. (P2)
