PALMOILMAGAZINE, JAKARTA – The price of crude palm oil (CPO) at PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was set at IDR 15,275/kg on Wednesday (11/20/2024), thus the price of CPO recorded a decrease of 0.59% or a decrease of around Rp. 90/kg, compared to the price of CPO on Tuesday (11/19/2024) which reached IDR 15,365/kg.
From the information obtained by Palmoilmagazine.com from KPBN, the Dumai Franco Price was set at IDR 15,275/kg. The price of CPO in Talang Duku was set at IDR 15,075/kg.
While reported by Reuters, the price of Palm oil futures on Bursa Malaysia slumped on Wednesday, (11/20/2024) weighed down by sluggish export demand and soybean oil prices on the Chicago Exchange which weakened, while investors awaited cargo surveyor data for further steps.
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The benchmark palm oil contract price for February delivery on the Bursa Malaysia Derivatives Exchange fell RM 33 per tonne or about 0.67%, to RM 4,891 (US$ 1,094.92) per metric tonne at the midday break. Palm oil contract prices recorded a 0.51% increase in the last session.
Then the price of the most active Dalian soybean oil contract rose 0.2%, while the price of its palm oil contract rose 0.59%. Soybean oil prices on the Chicago Board of Trade fell 0.25%.
The following are the details of the KPBN Tender results (Rp./Kg), Excld VAT for Wednesday (20/11/2024):
CPO:
- Franco Dumai IDR. 15,275-IBP
- Talang Duku IDR 15,075-MM
CPKO:
- Belawan IDR 25,183-MNA
- Lampung IDR 24,962 (WD). Highest bid Rp. 23,810-IKIN. (P2)
