PALMOILMAGAZINE, JAKARTA – The price of crude palm oil (CPO) at PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was set at IDR 15,255/kg on Monday (18/11/2024). This marks a 0.62% decrease, or approximately IDR 95/kg, compared to Friday’s (15/11/2024) price of IDR 15,350/kg.
According to information from KPBN, the Franco prices for Belawan and Dumai were set at IDR 15,255/kg. The price for Talang Duku was IDR 15,073/kg, while the price for Teluk Bayur was IDR 15,125/kg.
Meanwhile, as reported by Reuters, Malaysian palm oil futures traded lower on Monday (18/11/2024), pressured by declining prices in the Dalian Commodity Exchange. Benchmark palm oil futures (FCPOc3) for February delivery on the Malaysia Derivatives Exchange dropped by MYR 71 per ton, or about 1.41%, settling at MYR 4,982 (USD 1,115.79) per metric ton at midday. This follows a 2.5% increase in the previous session.
According to a Kuala Lumpur-based trader, the weakness in the palm oil market was driven by spread adjustments against Dalian palm oil prices.
The most active soybean oil contract (DBYcv1) on the Dalian exchange fell by 1.35%, while its palm oil contract (DCPcv1) dropped by 0.84%. On the other hand, soybean oil prices on the Chicago Board of Trade (BOcv1) rose slightly by 0.15%.
Detailed CPO Tender Results at KPBN Inacom (IDR/Kg, Excluding VAT, Monday, 18/11/2024):
- Franco Belawan & Dumai: IDR 15,255 – MNA, WNI
- Talang Duku: IDR 15,073 – PRISCOLIN
- Teluk Bayur: IDR 15,125 – WNI. (P2)
