PALMOILMAGAZINE, JAKARTA – The price of crude palm oil (CPO) at the Indonesia Commodity Market (Inacom) or PT Kharisma Pemasaran Bersama Nusantara (KPBN) located in Belawan and Dumai closed at Rp 15,738 / kg on Tuesday, November 12, 2024.
This price experienced a slight decrease of IDR 50/kg, compared to the CPO price on Monday (11/11/2024) which reached IDR 15,788/kg. Meanwhile, the price of CPO located in Talang Duku was set at IDR 15,538 / kg, and in Teluk Bayur the price of CPO was set at IDR 15,608 / kg.
For the price of palm kernel oil (CPKO), in Belawan the price opened at IDR 25,883 with the highest bid of IDR 23,525, while in Lampung the price opened at IDR 25,612 with the highest bid of IDR 22,525.
Also Read: Indonesia’s CPO Production Declines in May 2024, Biodiesel Consumption Rises
Meanwhile in Malaysia, quoting from Reuters, the price of Palm oil futures on Bursa Malaysia slumped on Tuesday, (12/11/2024 after the previous session closed at its highest level since mid-June 2022, weighed down by declines in crude oil and competing vegetable oils on the Dalian Exchange and Chicago Exchange.
The price of the benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange fell RM 71 per ton or about 1.37%, to RM 5,125 (US$ 1,158.45) per metric ton in the afternoon, snapping a four-session rally. (P3)
