KPBN Inacom’s CPO Price Rises 0.72% on on Tuesday (19/11), and Malaysian Exchange Strengthens

PALMOILMAGAZINE, JAKARTA – The price of crude palm oil (CPO) at PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was set at Rp. 15,365 / kg on Tuesday (11/19/2024), thus the price of CPO recorded an increase of 0.72% or an increase of around Rp. 110 / kg, compared to the price of CPO on Monday (11/18/2024) which reached Rp. 15,255 / kg.

From the information received by Palmoilmagazine.com from KPBN, the Franco price of Belawan & Dumai was set at IDR 15,365 / kg. The price of CPO in Talang Duku was set at IDR 15,165 / kg.

While reported by Reuters, the price of Palm oil futures contracts on the Malaysian Exchange closed higher on Tuesday, (11/19/2024) supported by more economical vegetable oil purchases and a price recovery in the palm oil market on the Dalian Exchange.

Also Read: Breaking the Sustainability Barrier: The Financial Challenge of Certification for Smallholders in Indonesia’s Palm Oil Sector

FCPOc3 palm oil prices for February 2025 delivery on Bursa Malaysia Derivatives Exchange ended up RM 23 per tonne or about 0.47% higher, to RM 4,922 (US$ 1,100.87) per metric tonne. Actually, the contract price was down 3.71% compared to the previous session.

According to Sunvin Group Head of Research, Anilkumar Bagani, the palm oil market was seen trading higher due to cheaper buying and bullish recovery in palm oil futures in China during Asian hours.

“The increase in palm oil prices is due to predictions of tighter palm oil supply following the implementation of the B40 biodiesel mandate in Indonesia and the Ramadan holiday,” Bagani said.

Previously, the Indonesian government reiterated to legislators its plan to implement a mandatory 40% palm oil-based biodiesel blend with diesel oil, known as B40, by January 2025.

Separately, traders anticipate a market correction, and with winter approaching, demand from India is expected to decline, a Mumbai-based trader said.

The price of Dalian’s most active soybean oil contract DBYcv1 rose 0.46%, while the price of its palm oil contract DCPcv1 fell 0.26%. Then the price of soybean oil on the Chicago Board of Trade BOcv1 fell 0.37%. traded

The following are the details of the results of the KPBN Tender (Rp./Kg), Excld VAT for the period Tuesday (11/19/2024):

CPO:

• Franco Belawan & Dumai Rp. 15,365-MM, AGM
• Talang Duku IDR 15,165-AGM

CPKO:

• Belawan IDR 25,365 (WD). Highest bid Rp. 24,750-MM
• Lampung IDR 25,144 (WD). Highest bid Rp. 23,750-IKIN. (P2)