PALMOILMAGAZINE, JAKARTA – The crude palm oil (CPO) tender price at PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom on Thursday, July 25, 2024, was withdrawn (WD) with the highest bid at IDR 12,775/kg.
This shows an increased IDR. 65/kg or around 0.51% compared to the bid on Wednesday, July 24, 2024, which was Rp. 12,710/kg.
According to information from KPBN obtained by Palmoilmagazine.com, the price of CPO in Belawan and Dumai was IDR. 12,775/kg. In Talang Duku, the CPO price was IDR. 12,575/kg, and in Sei Tapung IDR. 12,536/kg, but there was a WD with the highest bid at Rp. 12,405/kg.
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In West Kalimantan, CPO reached Rp. 12,425/kg but there was also a WD with the highest offer at IDR. 12,325/kg. In Kembayan, the CPO price was IDR 12,325/kg.
Meanwhile in Malaysia, according to Reuters, the price of CPO contracts on the Malaysia Derivatives Exchange fell for three consecutive sessions on Thursday, July 24, 2024. The decline was caused by falling prices of other vegetable oils, predictions of higher production, and Indonesia’s plan to increase biodiesel blends.
CPO reference contract price for October 2024 delivery at Malaysia Derivatives Exchange got cheaper RM 10 per ton or about 0,25% to be RM 3.915 (US$ 838,78) per metric ton in the midday.
Still from Reuters, soyoil contract price at Dalian got decreased 1%, CPO contract price did too 1,6%. Soyoil price at Chicago Board of Trade did decrease 0,6%. (P2)
