PALMOILMAGAZINE, JAKARTA – Crude palm oil (CPO) at the PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom tender was priced at Rp 13,407/kg on Friday, September 20, 2024. This marks an increase of Rp 49/kg or about 0.37%, compared to Thursday’s tender price of Rp 13,358/kg on September 19, 2024.
According to KPBN Inacom data obtained by Palmoilmagazine.com, CPO prices in Dumai and Belawan were both listed at Rp 13,407/kg. However, the Belawan tender was withdrawn, with the highest bid recorded at Rp 13,298/kg. Meanwhile, CPO in Talang Duku was priced at Rp 13,257/kg.
Palmoilmagazine.com analysis shows that between September 17-20, 2024, the average CPO tender price rose by Rp 123.50/kg, reaching Rp 13,197.50/kg—an increase of about 0.94% compared to the previous week’s average tender price of Rp 13,074.00/kg (September 9-13, 2024).
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As reported by Reuters, CPO contract prices on the Malaysian Derivatives Exchange increased for the third consecutive session on Friday, September 20, 2024. Traders seemed prepared for the weekly price rise, which also affected other vegetable oils despite cheaper crude oil, a stronger ringgit, and concerns about demand limiting further price hikes.
CPO reference contract price (FCPOc3) for December 2024 delivery at Malaysia Derivatives Exchange got escalated RM 42 per ton or about 1,08% to be RM 3.918 (US$ 937,32) per metric ton in the midday. It got increased about 2,7% this week.
Soyoil contract price at Dalian (DBYcv1) did increase 0,46%, CPO contract price (DCPcv1) did too 1,24%. Soyoil price at Chicago Board of Trade BOcv1 also increased 0,05%. (P2)
