PALMOILMAGAZINE, JAKARTA – The price of crude palm oil (CPO) at PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was set at Rp. 13,035/kg on Friday (13/9/2024), thus the CPO price was recorded to have decreased by Rp. 35/kg, or there was a decrease of about 0.27% compared to the CPO price on Thursday (12/9/2024), which reached Rp. 13,070/kg.
From the information obtained by Palmoilmagazine.com from KPBN, the price of CPO Franco Belawan & Dumai was set at Rp. 13,035/kg. Teluk Bayur CPO price is set at Rp. 12,905/kg. Sei Tapung CPO price is set at IDR 12,905/kg. Then the price of palm kernel oil (CPKO) in Belawan was set at IDR 20,808 / kg.
Referring to Palmoilmagazine.com calculations, in the period 9-13 September 2024, the average CPO price of KPBN was recorded to have decreased by Rp. 131.40 / kg to Rp. 13,074.00 / kg, or there was a decrease of around 1.0% compared to the average CPO price in the previous week’s period (2-6 September 2024), which reached Rp. 13,205.40 / kg.
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Meanwhile, as reported by Reuters, the price of palm oil futures on Bursa Malaysia rose in early trade on Friday (13/9/2024) from a three-week low, due to concerns over the supply of sunflower oil from the Black Sea region, the largest oil producer, following heightened tensions between Russia and Ukraine.
The price of the benchmark palm oil contract for November 2024 delivery on the Bursa Malaysia Derivatives Exchange rose RM4 per ton, or about 0.1%, to RM3,856 (US$893.32) per metric ton.
The price of the most active Dalian soybean oil contract rose 0.84%, while the price of its palm oil contract rose 0.28%. Chicago Board of Trade soybean oil prices edged up 0.4%. (P2)
