PALMOILMAGAZINE, JAKARTA – On Thursday (October 3, 2024), the crude palm oil (CPO) tender at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was marked as withdrawn (WD) with the highest bid reaching Rp 14,028/kg, showing stagnation from Wednesday’s tender (October 2, 2024), where the highest bid was Rp 14,027/kg.
According to information from KPBN, the CPO Franco Belawan was priced at Rp 14,138/kg but was withdrawn with the highest bid at Rp 14,028/kg. Similarly, CPO Franco in Dumai was also listed at Rp 14,138/kg, but the highest bid only reached Rp 13,900/kg, resulting in a withdrawal.
In other regions, CPO prices were as follows: Talang Duku at Rp 13,983/kg, Long Pinang at Rp 13,738/kg (WD with a highest bid of Rp 12,803/kg), and Pelaihari at Rp 13,738/kg (WD with a highest bid of Rp 12,803/kg).
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According to Reuters, the CPO contract price on the Malaysia Derivatives Exchange declined on Thursday (October 3, 2024) due to profit-taking by investors and a drop in soyoil prices on the Chicago Board of Trade, further contributing to the price decline.
CPO contract price (FCPOc3) for December 2024 delivery at Malaysia Derivatives Exchange got cheaper RM 38 per ton or about 0,91% to be RM 4.158 (US$ 987,18) per metric ton in the midday.
Soyoil price at Chicago Board of Trade BOcv1 got decreased 0,14%. Vegetable oil trade at Dalian was closed because of Golden Week in China.
Here are CPO tenders at KPBN (Rp./Kg), excluded income tax on Thursday (3/10/2024):
- Franco Belawan Rp. 14.138 (WD) with the highest bid Rp 14.028-BEST
- Dumai Rp. 14.138 (WD) with the highest bid Rp 13.900-PMA
- Talang Duku Rp. 13.938 – Priscolin
- Long Pinang Rp. 13.738 (WD) with the bid Rp. 12.803-EUP
- Pelaihari Rp. 13.738 (WD) with the bid Rp. 12.803-EUP. (P2)
