PALMOILMAGAZINE, JAKARTA – The price of crude palm oil (CPO) at PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was set at Rp. 13,089 / kg on Tuesday (10/9/2024), thus the CPO price was recorded to increase by Rp. 31 / kg, or there was an increase of about 0.24% compared to the CPO price on Monday (9/9/2024) which reached Rp. 13,058 / kg.
From the information obtained by Palmoilmagazine.com from KPBN, the price of CPO Franco Belawan & Dumai was set at Rp. 13,089 / kg. The price of CPO in Talang Duku was set at Rp. 12,960 / kg. Then the price of CPO in Teluk Bayur opened at Rp. 12,960 /kg, but there was a withdrawal (WD) with the highest bid of Rp. 12,954 / Kg. The price of CPO at Sei Tapung opened at Rp. 12,960 /kg, but there was a withdrawal (WD) with the highest bid of Rp. 12,842 / Kg.
While reported by Reuters, the price of Palm oil futures contracts on the Malaysian Exchange fell on Tuesday, (10/9/2024). Following the Malaysian Palm Oil Board (MPOB) reporting that the country’s palm oil stocks rose compared to the previous month.
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The price of the FCPOc3 palm oil contract for November 2024 delivery on Bursa Malaysia Derivatives Exchange fell by RM 15 per tonne or about 0.39%, to RM 3,880 (US$ 890.52) per metric tonne at the midday break.
Malaysia’s palm oil stocks at the end of August rose 7.34% from the previous month to 1.88 million metric tons, the highest level in six months, the Malaysian Palm Oil Board (MPOB) noted. While crude palm oil production rose 2.87% to 1.89 million tons, palm oil exports fell 9.74% to 1.53 million tons, the board said.
A Reuters survey estimated inventories at 1.86 million tons, with production estimated at 1.89 million tons and exports at 1.5 million tons.
The following are CPO Tender prices at KPBN (Rp./Kg), Excld VAT for the period Tuesday (10/9/2024):
- Franco Belawan & Dumai Rp. 13,089–MM, MNA, WNI
- Talang Duku IDR 12,960-MM
- Teluk Bayur IDR 12,960 (WD). Highest bid Rp. 12,954-WNI
- Sei Tapung Rp. 12,960 (WD). The highest bid is Rp. 12,842-Indonesian. (P2)
