Palm Oil Magazine - CPO Price at KPBN Inacom Rises 1.99% on Friday (29/11), Weekly Price Increases by 0.81%

PALMOILMAGAZINE, JAKARTA – The price of crude palm oil (CPO) at PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was set at IDR 15,548/kg on Friday (29/11/2024), marking a 1.99% increase, or approximately IDR 303/kg, compared to Thursday’s (28/11/2024) price of IDR 15,245/kg.

Based on Palmoilmagazine.com information from KPBN, CPO price at Dumai IDR 15,548/kg, Talang Duku IDR 15,384/kg, and Teluk Bayur IDR 15,454/kg.

According to Palmoilmagazine.com calculations, during the period of November 18–22, 2024, the average KPBN CPO price increased by IDR 122.90/kg to IDR 15,230.50/kg, reflecting a 0.81% rise compared to the previous week’s average price of IDR 15,107.60/kg.

Also Read: CPO Price at KPBN Inacom Increased IDR 170 on Thursday (24/10)

In Lampung, palm kernel oil (CPKO) opened at IDR 25,033/kg but saw a withdrawal (WD) with the highest bid at IDR 24,300/kg.

Meanwhile, Reuters reported that Malaysian palm oil futures rose for the fifth consecutive session on Friday (29/11/2024), trending toward a weekly increase. Concerns over supply disruptions caused by heavy rains in Malaysia added to already weak production levels.

The benchmark palm oil contract for February 2025 delivery on the Bursa Malaysia Derivatives Exchange rose by RM 121/ton (2.48%) to RM 5,006/ton (US$ 1,128.24) at midday. This contract has increased by 5.23% this week after declining over the previous two weeks.

Palm oil stocks fell by 6.32% in October 2024 to 1.88 million tons, while crude palm oil production dropped by 1.35% to 1.80 million tons, according to data released by the Malaysian Palm Oil Board (MPOB) earlier this month.

Additionally, active soyoil contracts on Dalian Commodity Exchange rose by 2.06%, while palm oil contracts increased by 2.75%. The Chicago Board of Trade was closed for the Thanksgiving holiday.

KPBN Tender Results (IDR/kg, excl. VAT) for Thursday (28/11/2024):

CPO: