PALMOILMAGAZINE, JAKARTA – The crude palm oil (CPO) tender at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom reached Rp. 13,235/kg on Wednesday (28/8/2024), a slight increase of Rp 2/kg or 0.02% from Tuesday’s tender of Rp 13,233/kg.
Based on information Palmoilmagazine.com received from KPBN Inacom, CPO Franco Belawan and Dumai were priced at Rp. 13,235/kg, while crude palm kernel oil (CPKO) in Dumai was Rp. 20,830/kg.
Reuters reported that CPO contract prices at the Malaysia Derivatives Exchange also saw a minor increase on Wednesday (28/8/2024), driven by reduced supplies in Indonesia and optimistic projections for the biodiesel mandate program. The reference CPO contract (FCPO1) for November 2024 delivery rose by RM 13 per ton, or 0.33%, to RM 3,936 (US$ 906.49) per metric ton, marking the fifth increase in six sessions leading up to midday.
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Indonesian Palm Oil Association (IPOA) noted to Palmoilmagazine.com, Wednesday (28/8/2024), the total exports got increased from 1,964 million tons in May to be 3,385 million tons in June 2024. The biggest sector was in CPO processed products that significantly increased 872 thousand tons from 1,365 million tons in May to be 2,237 million tons in June. CPO exports increased 578 thousand tons to be 651 thousand tons.
Cargo surveyor, Intertek Testing Services and independent inspection company, AmSpec Agri Malaysia noted that palm oil product exports from Malaysia on 1-25 August got decreased between 14,1% and 14,9% from the previous month.
Still from Reuters, soyoil contract price (DBYcv1) got increased 0,39%, while CPO contract price got decreased 0,57%. Soyoil price at Chicago Board of Trade got escalated 0,15%. (P2)
