PALMOILMAGAZINE, JAKARTA – The Crude Palm Oil (CPO) tender at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was withdrawn (WD) on Wednesday, August 14, 2024, with the highest bid reaching Rp 12,505/kg.
This represents a decreased of Rp 225/kg, or approximately 1.77%, compared to the previous day’s tender on Tuesday, August 13, 2024, which stood at Rp 12,730/kg.
According to information from KPBN, CPO in Belawan was offered at Rp 12,677/kg but was WD with the highest bid at Rp 12,505/kg. In Dumai, CPO was also set at Rp 12,677/kg but was WD with the highest bid at Rp 12,500/kg. Meanwhile, in Talang Duku, CPO was priced at Rp 12,477/kg but was WD with the highest bid at Rp 12,290/kg.
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For Crude Palm Kernel Oil (CPKO) in Belawan, the offered price was Rp 19,963/kg, but it was also withdrawn with the highest bid at Rp 19,525/kg.
As quoted from Reuters, CPO contract price at Malaysia Derivatives Exchange was stagnant on Wednesday (14/8/2024) after it hit the lowest level in the past seven months because the traders considered to get close stocks and more expensive crude oil.
CPO reference contract price for October 2024 delivery at Malaysia Derivatives Exchange was still at RM 3.693 (US$ 834,95) per metric ton in the midday.
Still from Reuters, soyoil contract price at Dalian got decreased 1,9%, CPO contract price did decrease 1,4%. Soyoil price at Chicago Board of Trade got increased 0,9% after it got decreased for two days. (P2)
