Palm Oil Magazine - CPO Price at KPBN Inacom Drops 1 Percent on Wednesday (9/10)

PALMOILMAGAZINE, JAKARTA – The crude palm oil (CPO) tender at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom closed with a withdrawal (WD) and the highest bid at Rp 13,900/kg on Wednesday (9/10/2024). This marks a 1% drop, or about Rp 140/kg, from Tuesday’s (8/10/2024) tender, which was Rp 14,040/kg.

According to KPBN data obtained by Palmoilmagazine.com, CPO Franco in Dumai was offered at Rp 14,078/kg but ended in WD with the highest bid of Rp 13,900/kg. In Sei Tapung, CPO was priced at Rp 13,839/kg but saw a WD with the highest bid at Rp 13,550/kg, and in Teluk Bayur, CPO was listed at Rp 13,948/kg but withdrawn with the highest bid at Rp 13,733/kg.

Meanwhile, Reuters reported an increase in CPO reference contract prices at the Malaysia Derivatives Exchange on Wednesday (9/10/2024), reversing previous losses as traders awaited official data from the Malaysian Palm Oil Board (MPOB).

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CPO reference contract price (FCPOc3) for December 2024 delivery at Malaysia Derivatives Exchange got escalated RM 18 per ton or about 0,42% to be RM 4.289 (US$ 1.001,63) per metric ton in the midday. It got decreased 1,80% in the early session because of the vegetable oil price at Dalian that got cheaper and the increasing ringgit currency.

Soyoil contract price at Dalian (DBYcv1) got decreased 0,77%, and so did CPO contract price (DCPcv1) at 1,4%. While soyoil price at Chicago Board of Trade (BOcv1) got escalated 1,04%.

Here are CPO tenders at KPBN (Rp./Kg), excluded income tax on Wednesday (9/10/2024):