PALMOILMAGAZINE, JAKARTA – The price of crude palm oil (CPO) at PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was set at Rp. 14,027 / kg on Wednesday (2/10/2024), thus the price of CPO recorded an increase of Rp. 228 / kg, or there was a decrease of about 1.65% compared to the price of CPO on Tuesday (1/10/2024) which reached Rp. 13,799 / kg.
From the information received by Palmoilmagazine.com from KPBN, the price of CPO Franco Belawan & Dumai was set at IDR 14,027 / kg. Then the price of CPO in Talang Duku was set at IDR 13,827/Kg. CPO price in Parindu opened at IDR 13,677/Kg, but there was a withdrawal (WD) with the highest bid of IDR 13,400/Kg. CPO price in Long Pinang opened at IDR 13,627/Kg, but there was a withdrawal (WD) with the highest offer of IDR 12,900/Kg.
Meanwhile, as reported by Reuters, the price of Palm oil futures on Bursa Malaysia jumped more than 4% on Wednesday, (2/10/2024) driven by rising crude oil and soybean oil prices on the Chicago Exchange.
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The price of the benchmark FCPOc3 palm oil contract for December 2024 delivery on the Bursa Malaysia Derivatives Exchange rose RM 190 per ton or about 4.74%, to RM 4,196 (US$ 1,006.72) per metric ton at the closing session, the highest daily gain since July 3, 2023.
The contract price rose 4.79% to an intraday high of RM 4,198 per metric ton earlier in the session. The contract also rose 5.03% for two consecutive sessions.
Here are the details of KPBN Tender results (Rp./Kg), Excld VAT for Wednesday (2/9/2024) period:
CPO:
- Franco Belawan & Dumai Rp. 14,027-ACI, AGM, EUP
- Talang Duku IDR 13,827-AGM
- Parindu IDR 13,677 (WD). Highest bid Rp. 13,400-EUP
- Long Pinang Rp. 13,627 (WD). Highest bid Rp. 12,900-EUP
- Pelaihari Rp. 13,627 (WD). Offer Rp. 12,900-EUP
CPKO:
- Belawan Rp. 21,435-MM
- Lampung Rp. 21,124 (WD). Highest bid Rp. 20,725-IKIN
- Palembang Rp. 20,981 (WD). highest bid Rp. 20,540-SAP. (P2)
