PALMOILMAGAZINE, JAKARTA – The crude palm oil (CPO) price at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was set at IDR 15,656/kg on Monday (2/12/2024), reflecting a 0.69% increase or approximately IDR 108/kg compared to Friday’s (29/11/2024) price of IDR 15,548/kg.
According to Palmoilmagazine.com information from KPBN, the Franco Belawan & Dumai price was set at IDR 15,656/kg, while the CPO price in Talang Duku was set at IDR 15,456/kg.
Meanwhile, Reuters reported that Malaysian palm oil futures prices fell on Monday (2/12/2024), ending a five-session rally. This decline was attributed to weaker soybean oil prices on the Dalian and Chicago exchanges and a drop in November exports.
Also Read: CPO Price at KPBN Inacom Rises 1.99% on Friday (29/11), Weekly Price Increases by 0.81%
The benchmark palm oil contract for February 2025 delivery on the Malaysian Derivatives Exchange fell by MYR 62 per ton, or approximately 1.24%, to MYR 4,958 (USD 1,112.41) per metric ton at the close of the session.
Palm oil prices rose by 6.9% in November, marking the fourth consecutive month of gains.
In comparison, the most active soybean oil contract on the Dalian exchange fell by 0.98%, while palm oil futures rose by 1.31%. On the Chicago Board of Trade, soybean oil prices declined by 0.34% after resuming trading following the Thanksgiving holiday. (P2)
