PALMOILMAGAZINE, JAKARTA – The price of crude palm oil (CPO) at PT Kharisma Pemasaran Bersama Nusantara (KPBN) recorded a slight decrease on Friday (11/22/2024). The highest bid stood at Rp 14,813/kg, marking a 0.11% drop (Rp 17/kg) compared to Thursday’s highest bid of Rp 14,830/kg.
According to information from KPBN via Palmoilmagazine.com, the Dumai Franco Price was set at Rp 14,813/kg, while the CPO price in Talang Duku was fixed at Rp 14,613/kg.
During the week of November 18–22, 2024, the average CPO price at KPBN slipped by Rp 349.40/kg to Rp 15,107.60/kg, reflecting a 2.26% decline compared to the previous week (November 11–15, 2024), which averaged Rp 15,457.00/kg.
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Meanwhile, Reuters reported that CPO futures on Bursa Malaysia also fell on Friday, heading for a second consecutive weekly decline. The drop was attributed to weaker soybean prices and concerns over demand. The price of the FCPOc3 palm oil contract for February 2025 delivery on the Bursa Malaysia Derivatives Exchange fell RM 81 per tonne or about 1.7%, to RM 4,691 (US$ 1,050.62) per metric tonne at the midday break.
Dalian’s most active soybean oil contract price DBYcv1 fell 1.2%, while its palm oil contract price DCPcv1 fell 0.91%. The price of soybean oil on the Chicago Board of Trade BOcv1 fell 0.14%.
The following are the details of the KPBN Tender results (Rp./Kg), Excld VAT for the period Friday (22/11/2024):
CPO:
- Franco Dumai Rp. 14,813-EUP
- Talang Duku IDR 14,613-PRISCOLIN
CPKO:
- Lampung IDR 24,745 (WD). Highest bid Rp. 23,860-IKIN
- Palembang IDR 24,602 (WD). Highest bid Rp. 24,260-IKIN. (P2)
