PALMOILMAGAZINE, JAKARTA – Crude palm oil (CPO) tender at PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was priced at Rp 12,925/kg on Tuesday (17/9/2024), down by Rp 110/kg or approximately 0.84% compared to Friday’s (13/9/2024) tender price of Rp 13,035/kg.
According to KPBN, the Franco CPO prices were Rp 12,925/kg in Belawan and Dumai, Rp 12,795/kg in Teluk Bayur, Rp 12,905/kg in Sei Tapung, and Rp 12,725/kg in Talang Duku.
Meanwhile, Reuters reported that CPO futures on the Malaysia Derivatives Exchange (Bursa Malaysia) fell on Tuesday (17/9/2024) after reopening following a holiday and India’s decision to raise the import tax on vegetable oil to 27.5%.
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The December 2024 CPO contract (FCPOc3) dropped by RM 60 per ton, or about 1.59%, to RM 3,715 (US$ 868.60) per metric ton at midday. The contract had declined 2.2% the previous week.
India, the biggest vegetable oil imports, would manage basic import duty about 27,5% from the previous that was 5,5% on (crude) palm oil, crude soyoil, and sunflower oil that started on 14 September.
Soyoil price at Chicago Board of Trade BOcv1 got increased by 0.14%. Dalian in China was closed because of the holiday. (P2)
