PALMOILMAGAZINE, JAKARTA – The crude palm oil (CPO) tender at PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was withdrawn (WD) on Thursday (10/10/2024), with the highest price reaching IDR 13,890/kg. This marked a decline of 0.07%, or around IDR 10/kg, from Wednesday’s auction price (9/10/2024) which reached IDR 13,900/kg.
According to information Palmoilmagazine.com received from KPBN, the CPO Franco price in Dumai reached Rp 14,029/kg, but was withdrawn with the highest bid of Rp 13,890/kg. In Talang Duku, CPO was priced at IDR 13,829/kg, while in Sei Tapung, CPO Franco was listed at IDR 13,790/kg but was also withdrawn with the highest bid of IDR 13,500/kg.
As reported by Reuters, CPO prices on the Malaysia Derivatives Exchange increased on Thursday (10/10/2024) following two consecutive sessions of decline. Traders were awaiting official data from the Malaysian Palm Oil Board (MPOB). The reference contract price for December 2024 delivery (FCPOc3) rose by RM 9 per ton, or about 0.21%, to RM 4,261 (US$ 993.24) per metric ton by midday, after a 2.1% drop in the previous two sessions.
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MPOB officially released data about offer and demands in September 2024 in the midday. It was confirmed that palm oil stock in Malaysia by the late of September got increased 6,93% from the previous month, the highest level in the past eight months while crude palm oil production got decreased 3,80% – the exports got increased 0,93%.
Soyoil contract price at Dalian (DBYcv1) got increased 0,83%, and so did CPO contract price about 0,39%. Soyoil price at Chicago Board of Trade BOcv1 got increased 0,14%.
Here are tenders at KPBN (Rp./Kg), excluded income tax on Thursday (10/10/2024):
CPO:
- Franco Dumai Rp. 14.029 (WD) with the highest bid Rp. 13.890-PAA, IBP
- Talang Duku Rp. 13.829-PRISCOLIN
- Sei Tapung Rp. 13.790 (WD) with the highest bid Rp. 13.500-WNI
- East Kalimantan Rp. 13.629-EUP
- Parindu Rp. 13.679-EUP
CPKO: Lampung Rp. 21.126 (WD) with the highest bid Rp. 19.800-IKIN. (P2)