PALMOILMAGAZINE, JAKARTA – The crude palm oil (CPO) tender at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was priced at IDR 13,100/kg on Friday (6/9/2024), a decrease of IDR 31/kg or 0.24% compared to Thursday’s (5/9/2024) tender of IDR 13,131/kg.
According to Palmoilmagazine.com, CPO Franco in Belawan and Dumai was also priced at IDR 13,100/kg, while in Talang Duku it was IDR 12,900/kg.
From 2 to 6 September 2024, the average CPO tender at KPBN decreased by IDR 2.60/kg to IDR 13,205.40/kg, down 0.02% compared to the previous week’s average of IDR 13,208.00/kg (26-30 August 2024).
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As quoted by Reuters, CPO contract prices at the Malaysia Derivatives Exchange increased on Friday (6/9/2024) but saw a weekly decline. Traders are awaiting official data from the Malaysian Palm Oil Board (MPOB), which is expected to be released next week.
CPO reference contract price (FCPOc3) for November 2024 delivery at Malaysia Derivatives Exchange got decreased RM 32 per ton or about 0.82%, to be RM 3.885 (US$ 897.23) per metric ton in the midday. It got decreased 2,31% for the last week.
MPOB scheduled to release CPO monthly data on Tuesday, 10 September. Survey results by Reuters to 14 traders and analysis showed that palm oil supply/stock in the country got decreased 7,31% to the highest level for the last six month that reached 1,86 million metric tons by the late of August because of the stagnant exports.
Soyoil contract price at Dalian (DBYcv1) got decreased by 0.34%; CPO contract price (DCPcv1) did increase by 0.23%. Chicago Board of Trade BOcv1 got decreased 1,14%. (P2)
