PALMOILMAGAZINE, JAKARTA – Crude palm oil (CPO) at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was priced at Rp 12,588/kg on Friday (16/8/2024), marking an increased of Rp 68/kg or about 0.54% compared to Thursday’s (15/8/2024) tender price of Rp 12,520/kg.
According to information Palmoilmagazine.com received from KPBN, the price of CPO in Belawan and Dumai is Rp 12,588/kg.
During the period from 12-16 August 2024, Palmoilmagazine.com reported that the average CPO tender price at KPBN decreased by approximately Rp 359.60/kg to Rp 12,634.60/kg, a drop of about 2.77% from the previous week’s average (5-9 August 2024) of Rp 12,944.20/kg.
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As quoted from Reuters, the CPO contract price at the Malaysia Derivatives Exchange increased on Friday (16/8/2024) due to concerns over slow production in Indonesia and decreased exports from Malaysia, which limited the upward trend in exports.
CPO contract price (FCPOc3) for November 2024 delivery at Malaysia Derivatives Exchange got increased RM 15 per ton or about 0,41% to be RM 3.711 (US$ 836,75) per metric ton in the midday.
In this week, CPO contract got increased 0,19% after it got decreased for three weeks in a row.
Still from Reuters, CPO was a little bit expensive than soyoil. This raised concern about the demands, as Lingam Supramaniam, Director of Pelindung Bestari – a broker company in Selangor, said.
Referring to the independent inspection company, AmSpec Agri Malaysia, palm oil exports from Malaysia on 1 – 15 August got decreased 22,3% from the previous month. Cargo surveyor, Intertek Testing Services reported that the exports from Malaysia did decrease 20,2% in the same period to the previous month.
Soyoil contract at Dalian (DBYcv1) got increased 0,16%, CPO contract (DCPcv1) got increased 0,8%. Soyoil price at Chicago Board of Trade BOcv1 got decreased 0,75%, for the fifth day in a row. (P2)
