PALMOILMAGAZINE, JAKARTA – Crude palm oil (CPO) prices at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) rose to Rp 12,918 per kilogram on Friday, August 9, 2024, reflecting an increase of Rp 100 per kilogram, or 0.78%, compared to Thursday’s tender price of Rp 12,818 per kilogram.
Based on information obtained from KPBN, the price of CPO in Belawan and Dumai reached Rp 13,918 per kilogram, while in Talang Duku it was Rp 12,718 per kilogram, in Ngabang the price opened at Rp 12,568 per kilogram but WD with the highest bid was Rp 12,525 per kilogram, and in Kembayan it was Rp 12,525 per kilogram.
For the week of August 5–9, 2024, the average CPO tender price at KPBN decreased by Rp 39.60 per kilogram, or 0.30%, to Rp 12,994.20 per kilogram, down from the previous week’s average of Rp 13,033.80 per kilogram (July 29–August 2, 2024).
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Meanwhile, in Malaysia, according to a report from Reuters, CPO contract prices on the Bursa Malaysia Derivatives Exchange rose on Friday, August 9, 2024, driven by rising edible oil prices in Dalian and Chicago, as well as rising crude oil prices.
However, CPO contract prices have declined for three consecutive weeks.The price of the CPO reference contract, FCPO1 for October 2024 delivery on Bursa Malaysia Derivatives Exchange rose RM 42 per tonne or about 1.13%, to RM 3,746 (US$ 848.47) per metric tonne at the closing session.
CPO contract price decreased by 4,37% for last week, after a decrease 1% in the two weeks prior.
Still from Reuters, soyoil contract price at Dalian (DBYcv1) got increased 0,32% CPO contract price (CPO1) did increase 1,44%. Soyoil price at Chicago Board of Trade did too, by 0.22%. (P2)
