PALMOILMAGAZINE, JAKARTA – Crude palm oil (CPO) tenders at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom were withdrawn (WD) on Thursday (8/8/2024) with the highest bid reaching Rp 12,818/kg.
This marks a decrease of Rp 89/kg, or about 0.69%, compared to the tender on Wednesday (7/8/2024), which stood at Rp 12,907/kg.
According to information obtained by Palmoilmagazine.com from KPBN Inacom, the CPO Franco price in Belawan and Dumai was opened at Rp 13,939/kg, but WD with the highest bid at Rp 12,818/kg. In Talang Duku, the CPO price was IDR 12,739/kg, with the highest bid at IDR 12,575/kg, while in Ngabang, the CPO price was IDR 12,589/kg, with the highest bid at IDR 12,425/kg.
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As reported by Reuters, CPO contract prices on the Malaysia Derivatives Exchange (MDX) rose on Thursday (8/8/2024) after declining for three consecutive days. The increase was driven by rising prices in other vegetable oil contracts and higher crude oil prices.
The reference CPO contract price (FCPO1) for October 2024 increased by RM 23 per ton, or about 0.62%, to 3,720 ringgit (US$ 834.08) per metric ton at midday. This follows two sessions where the price closed near its lowest level in seven months.
Still from Reuters, soyoil contract price at Dalian (DBYcv1) got increased 1,32%, CPO contract price – CPO1 did too 0,74%. Soyoil price at Chicago Board of Trade ZL1 got decreased 0,64%.
Here are CPO price tenders at KPBN (Rp./Kg), excluded income tax on Thursday (8/8/2024):
- Franco Belawan and Dumai Rp. 12.939 (WD) with the highest bid Rp. 12.818-AGM, ACI
- Talang Duku Rp. 12.739 (WD) with the highest bid Rp. 12.575-PRISCOLIN
- Ngabang Rp. 12.589 (WD) with the highest bid Rp. 12.425-EUP. (P2)
