PALMOILMAGAZINE, JAKARTA – CPO tender at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom on Monday (9/9/2024) dropped to Rp 13,058/kg, down by Rp 42/kg or 0.32% from Friday’s price of Rp 13,100/kg.
According to KPBN Inacom, CPO prices in Belawan and Dumai were also set at Rp 13,058/kg. Meanwhile, as Reuters reported, CPO prices on the Malaysia Derivatives Exchange fell on Monday (9/9/2024), following a decline in soyoil, as traders awaited official Malaysian Palm Oil Board (MPOB) data on palm oil stocks and production.
The CPO contract for November 2024 delivery (FCPOc3) on the Malaysia Derivatives Exchange dropped by RM 6/ton (0.15%) to RM 3,892 (US$ 894.10) per metric ton at midday.
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MPOB would be officially releasing palm oil data on Tuesday, 10 September. The survey by Reuters mentioned, palm oil supplies in Malaysia could be increasing to the highest level in the past semester by the late of August 2024 because of the sluggish exports. According to Amspec Agri, palm oil exports from Malaysia could be about 1.376.412 tons. (P2)
