Palm Oil Magazine - CPO Price at KPBN on Monday (7/10); Withdrawn with Highest Bid of Rp 14,025/kg Amid Market Fluctuations

PALMOILMAGAZINE, JAKARTA – The crude palm oil (CPO) tender at PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was withdrawn (WD) with the highest bid at Rp 14,025/kg on Monday, October 7, 2024. This reflects an increase of 0.54%, or about Rp 75/kg, compared to the previous tender on Friday, October 4, when the price was Rp 13,950/kg.

According to information obtained by Palmoilmagazine.com from KPBN, the CPO price for Franco in Dumai was Rp 14,242/kg, but it was withdrawn with the highest bid at Rp 14,025/kg. Similarly, the CPO price for Franco in Belawan was Rp 14,242/kg, with a WD highest bid of Rp 13,913/kg. In Teluk Bayur, CPO was priced at Rp 14,112/kg but was withdrawn with the highest bid at Rp 13,745/kg. In Talang Duku, the price was Rp 14,042/kg, with the highest bid at Rp 13,825/kg.

As reported by Reuters, CPO contract prices at the Malaysian Derivatives Exchange fell on Monday, October 7, 2024, due to a decrease in soyoil prices at the Chicago Board of Trade and a weakening ringgit, which limited price declines.

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CPO reference contract price at Malaysia Derivatives Exchange for December 2024 delivery got cheaper RM 14 per ton or about 0,33% to be RM 4.286 (US$ 1.003,28) per metric ton in the midday.

Soyoil contract price at Chicago Board of Trade got decreased 1,43%. Dalian was closed because of Golden Week holidays in China.

Here are CPO tenders at KPBN (Rp./Kg), excluded income tax on Monday (7/10/2024):