PALMOILMAGAZINE, JAKARTA – The crude palm oil (CPO) tender at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom reached Rp. 13,089/kg on Monday, August 26, 2024. This represents an increase of Rp 130/kg, or approximately 1.00%, from the previous tender on Friday, August 23, 2024, which was Rp 12,959/kg.
According to information obtained by Palmoilmagazine.com from KPBN, CPO Franco prices in Belawan and Dumai were both set at Rp. 13,089/kg.
As reported by Reuters, the CPO contract price on the Malaysia Derivatives Exchange rose for the fourth consecutive session on Monday, August 26, 2024, reaching its highest level in three weeks. The price increase was supported by improved demand prospects from Indonesia, the main consumer, despite a decline in exports that limited further gains.
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The reference CPO contract price for November 2024 delivery on the Malaysia Derivatives Exchange increased by RM 19 per ton, or about 0.49%, to RM 3,886 (US$ 894.98) per metric ton by the evening.
Cargo surveyor, Intertek Testing Services reported that palm oil exports from Malaysia on 1 – 25 August got decreased 14,9% to be 1.055.768 tons, from the previous same period last month that reached 1.240.593 tons, Sunday. Independent inspection company, AmSpec Agri Malaysia reported that palm oil exports from Malaysia got decreased 14,05% to be 1.008.418 tons, from 1.173.224 tons in the same period last month.
Still from Reuters, soyoil contract price at Dalian got increased 0,3%, CPO contract price got increased 1,26%. Soyoil price at Chicago Board of Trade got decreased 0,17%. (P2)
