PALMOILMAGAZINE, JAKARTA – On Thursday (24/10/2024), the crude palm oil (CPO) tender at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was recorded at IDR 14,507/kg, reflecting a increase IDR 170/kg from the previous day’s tender on Wednesday (23/10/2024), which stood at IDR 14,337/kg.
According to KPBN Inacom, CPO Franco prices in Belawan and Dumai were IDR 14,507/kg, while in South Kalimantan, CPO was priced at IDR 14,107/kg but was withdrawn (WD) with the highest bid reaching IDR 13,383/kg.
Reuters reported that the CPO contract price on the Malaysia Derivatives Exchange surged by more than 2% on Thursday (24/10/2024), driven by forecasts of declining palm oil production and lower national stock levels. The reference CPO contract (FCPOc3) for January 2025 delivery rose by RM 116 per metric ton, or 2.59%, closing at RM 4,602 per metric ton. This marked a 7.92% increase over four consecutive days.
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The Malaysian Palm Oil Board (MPOB) reported that CPO production in September decreased by 3.8% compared to August, while palm oil exports increased by 0.93%.
Soyoil contract price at Dalian (DBYcv1) got increased 0,71%, CPO contract price (DCPcv1) did increase 1,55%. Soyoil price at Chicago Board of Trade BOcv1 did too 2,21%.
Here are CPO tenders at KPBN (IDR./Kg), excluded income tax on Thursday (24/10/2024):
- Franco Belawan and Dumai IDR. 14.507-MM, IBP
- Kalsel IDR. 14.107 (WD) with the highest bid IDR. 13.383-EUP. (P2)
