PALMOILMAGAZINE, JAKARTA – On Tuesday, October 1, 2024, crude palm oil (CPO) at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was in withdrawal (WD), with the highest bid at Rp 13,799/kg. This marked a decrease of Rp 179/kg, or approximately 1.28%, from the previous tender on Monday, September 30, 2024, which was Rp 13,978/kg.
According to information Palmoilmagazine.com received from KPBN Inacom, the CPO price at Franco Dumai was Rp 14,106/kg, but the highest WD offer was Rp 13,799/kg. At Talang Duku, the CPO price was at IDR 13,906/kg, with the highest WD offer at IDR 13,599/kg. In Parindu, CPO was at Rp 13,756/kg, but the highest WD offer fell to Rp 13,268/kg. In Long Pinang, the CPO price was at IDR 13,706/kg, with the highest WD offer at IDR 12,668/kg.
As reported by Reuters, the CPO contract price at the Malaysia Derivatives Exchange increased on Tuesday, October 1, 2024, following a previous decline. This rise was fueled by Indonesia’s plan to raise its reference price for October 2024, which bolstered trader sentiment. The reference contract price (FCPOc3) for December 2024 at the Malaysia Derivatives Exchange rose by RM 43 per ton, or about 1.08%, reaching RM 4,038 (US$ 969.74) per metric ton by midday.
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Still from Reuters, what Indonesia do to increase CPO reference price for about US$ 54 to be US$ 893,64 per ton in October 2024 would support the increasing price at Malaysia Derivatives Exchange and it got traded 50 points higher this morning, as Marcello Cultrera, seeds, vegetable, and soft oil broker at SSY Global, said.
Soyoil contract price at Chicago Board of Trade (BOcv1) got decreased 0,74%. Dalian was closed for the Golden Week holidays in China.
Here are tenders at KPBN (Rp./Kg), excluded income tax on Monday (30/9/2024):
CPO:
- Franco Belawan Rp. 14.106. (WD) with the highest bid Rp. 13.838-UNILEVER
- Dumai Rp. 14.106 (WD) with the highest bid Rp. 13.799-AGM
- Talang Duku Rp. 13.906 (WD) with the highest bid Rp. 13.599-AGM.
- Parindu Rp. 13.756 (WD) with the highest bid Rp. 13.268-EUP
- Long Pinang Rp. 13.706 (WD) with the bid Rp. 12.668-EUP
- Pelaihari Rp. 13.706 (WD) with the bid Rp. 12.668-EUP
CPKO:
- Belawan Rp. 22.260 (WD) with the highest bid Rp. 21.030-MM
- Lampung Rp. 22.039 (WD) with the highest bid Rp. 20.230-IKIN
- Palembang Rp. 21.896 (WD) with the highest bid Rp. 20.540-SAP. (P2)
