PALMOILMAGAZINE, JAKARTA – On Friday, August 30, 2024, the crude palm oil (CPO) tender at PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom reached IDR 13,328/kg, marking an increase of IDR 173/kg, or about 1.32%, compared to Thursday’s tender on August 29, 2024, which was IDR 13,155/kg.
Based on information Palmoilmagazine.com obtained from KPBN Inacom, CPO prices in Belawan and Dumai were also recorded at Rp 13,328/kg.
Palmoilmagazine.com further calculated that during the week of August 19-23, 2024, the average CPO tender at KPBN rose by approximately IDR 433.60/kg, bringing the average to IDR 13,208.00/kg, an increase of 3.39% compared to the previous week’s average of IDR 12,774.40/kg.
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As quoted from Reuters, CPO contract price at Malaysia Derivatives Exchangge on Friday (30/8/2024) got increased and heading to the second increasing price weekly. The traders still waited for about export and import tax from Indonesia and Malaysia.
CPO reference contract price for November 2024 delivery at Malaysia Derivatives Exchange got increased RM 45 per ton or about 1,14%, to be RM 3.985 (US$ 924,17) per metric ton in the evening.
CPO contract price got increased 3,05% this week and got escalated about 2,0% for the last month.
Still from Reuters, the traders did carefully transaction because the main importer country still considered to increase vegetable oil import duty. This could press CPO demands.
Soyoil contract price at Dalian did increase 1,7%, CPO contract price got escalated 1,2%. Soyoil price at Chicago Board of Trade did too 0,88%. (P2)
