PALMOILMAGAZINE, JAKARTA – On Tuesday, October 29, 2024, the crude palm oil (CPO) tender at PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom rose to Rp 14,750 per kilogram, marking an increase of 0.44% (Rp 36 per kilogram) from Monday’s tender price of Rp 14,685 per kilogram.
According to information from KPBN, the CPO Franco price was Rp 14,750 per kilogram in Belawan and Dumai and Rp 14,550 per kilogram in Talang Duku.
Reuters reported that the CPO contract price on the Malaysia Derivatives Exchange also rose on October 29, 2024, driven by expectations of decreased production and lower supply in Malaysia. The CPO benchmark contract (FCPOc3) for January 2025 delivery increased by RM 20 per metric ton (0.44%) to reach RM 4,549 (US$ 1,041.44) per metric ton by midday.
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CPO trade got higher because the decreasing production and the lower numbers of supply in the country, and supported by the increasing demands, as David Ng, a private trader in Iceberg X Sdn Bhd., Kuala Lumpur, said.
Soyoil contract price at Dalian (DBYcv1) got decreased 1,28%, CPO contract price (DCPcv1) did too 0,09%. Soyoil price at Chicago Board of Trade (BOcv1) got escalated 0,28%.
Here are tenders at KPBN (Rp./Kg), excluded income tax on Tuesday (29/10/2024):
CPO:
Franco Belawan and Dumai Rp. 14.750-BEST, IBP
Talang Duku Rp. 14.550-MM
CPKO:
Belawan Rp. 22.392 (WD) with the highest bid Rp. 21.975-MNA
Palembang Rp. 22.088 (WD) with the highest bid Rp. 21.375-IKIN. (P2)
