PALMOILMAGAZINE, JAKARTA – On Thursday, September 12, 2024, the crude palm oil (CPO) tender at PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom closed at Rp 13,070/kg, down by Rp 48/kg or 0.37% from the previous day’s price of Rp 13,118/kg.
According to information Palmoilmagazine.com received from KPBN Inacom, the price of Franco CPO in Belawan and Dumai also stood at Rp 13,070/kg. Meanwhile, crude palm kernel oil (CPKO) in Belawan was offered at IDR 21,150/kg, but the highest bid only reached IDR 20,900/kg, which eventually led to the withdrawal.
Reuters reported that the CPO contract price on the Bursa Malaysia fell to its lowest level in three weeks on the same day. This decline was attributed to concerns over a potential increase in India’s import duties and a drop in soyoil and CPO contract prices on the Dalian Commodity Exchange.
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CPO contract price (FCPOc3) for November 2024 delivery at Malaysia Derivatives Exchange got decreased RM 53 per ton or about 1,36% to be RM 3.848 (US$ 888,07) per metric ton.
Palm oil imports in India in August got decreased more than one fourth from the previous month. It happened for enough stock in the country and negative margin that made distillation be reluctant to purchase much tropical oil, as the advance trade agency said, Thursday.
Still from Reuters, soyoil contract price at Dalian (DBYcv1) got decreased 0,44%, CPO contract price (DCPcv1) did too 0,28%. Soyoil price at Chicago Board of Trade BOc2 got decreased 0,25%. (P2)
