PALMOILMAGAZINE, JAKARTA – The crude palm oil (CPO) tender at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was priced at Rp 12,830/kg on Monday, 12 August 2024. This marks a decrease of Rp 88/kg, or about 0.68%, from the previous tender on Friday, 9 August 2024, which was Rp 12,918/kg.
According to information obtained by Palmoilmagazine.com from KPBN, CPO prices were Rp 12,830/kg for Franco Belawan and Dumai, while in Talang Duku, CPO was priced at Rp 12,630/kg.
As reported by Reuters, the CPO contract price at the Malaysia Derivatives Exchange also fell on Monday, 12 August 2024, following reports from cargo surveyors indicating a significant drop in exports in early August 2024.
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The CPO contract price (FCPO1) for October 2024 delivery at the Malaysia Derivatives Exchange decreased by RM 26 per ton, or approximately 0.69%, to RM 3,721 (US$ 839.01) per metric ton during the early session.
Cargo surveyor, Intertek Testing Services mentioned that palm oil exports from Malaysia on 1 – 10 August got decreased 17,7% to be 435.413 tons from 528.843 tons on 1 – 10 July. Independent inspection company, AmSpec Agri Malaysia revealed that palm oil exports from Malaysia on 1 – 10 August got decreased 12,2% to be 470.706 tons from 536.193 tons on 1 – 10 July. (P2)
Still from Reuters, soyoil contract price at Dalian (DBYcv1) got decreased 0,4%, CPO contract price did too 0,2%. Soyoil price at Chicago Board of Trade got the same 0,5%.
