PALMOILMAGAZINE, JAKARTA – The price of crude palm oil (CPO) at PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom Withdraw (WD) with the highest price offer of Rp. 13,950/kg on Friday (4/10/2024), thus, the price of CPO recorded a decrease of 0.56% or a decrease of around Rp.78/kg, compared to the price of CPO on Thursday (3/10/2024), which reached Rp. 14,028/kg.
From the information obtained by Palmoilmagazine.com from KPBN, the price of CPO Franco Dumai opened at IDR 14,322/kg but there was a withdrawal (WD) with the highest offer of IDR 13,950/kg. Franco Belawan price opened at IDR 14,322/kg but there was a withdrawal (WD) with the highest offer of IDR 13,888/Kg.
Referring to Palmoilmagazine.com calculation, in the period September 30 – October 4, 2024, the average price of KPBN CPO was recorded to have increased by IDR 176.20 / kg to IDR 13,956.40 / kg, or there was an increase of around 1.28% compared to the average price of CPO in the previous week’s period (September 23-27, 2024) which reached IDR 13,780.20/kg.
The CPO price in Sei Tapung was opened at IDR 14,083/Kg but there was a withdrawal (WD) with the highest bid of IDR 13,587/Kg. The CPO price in Talang Duku opened at IDR 14,122/Kg, but there was a withdrawal (WD) with the highest bid of IDR 13,750/kg.
While reported by Reuters, the price of Palm oil futures on Bursa Malaysia surged on Friday, (4/10/2024) boosted by widening conflict in the Middle East, and was on track for its highest weekly gain since June 2023.
The price of the benchmark FCPOc3 palm oil contract for December 2024 delivery on the Bursa Malaysia Derivatives Exchange rose RM 88 per ton or about 2.1%, to RM 4,270 (US$ 1,009.93) per metric ton at the midday break. The price of the palm oil contract has so far gained 5.41% over the week period.
The palm oil market is on the rise, reflecting crude oil’s rally amid conflicts in the Middle East, said a Mumbai-based trader with a global trading house.
The price of the soybean oil contract on the Chicago Board of Trade BOcv1 rose 0.7% to US$44.84. The Dalian Vegetable oil market was closed for the Golden Week holiday in China.
The following are the details of CPO Tender results at KPBN (Rp./Kg), Excld VAT for the period Friday (4/10/2024):
- Franco Belawan Rp. 14,322 (WD). Highest bid Rp. 13,888-ACI
- Dumai IDR 14,322 (WD). Highest bid Rp. 13,950-EUP
- Sei Tapung Rp. 14,083 (WD). Highest bid Rp. 13,587-WNI
- Teluk Bayur Rp. 14,192 (WD). Highest bid Rp. 13,725-WIRA
- Talang Duku Rp. 14,122 (WD). Highest bid Rp. 13,750-PRISCOLIN
- Pelaihari Rp. 13,768 (WD). Bid Rp. 9,750-DKSD/SDS
- Long Pinang Rp. 13,837 (WD). Bid Rp. 12,950-EUP. (P2)
