PALMOILMAGAZINE, JAKARTA – The price of crude palm oil (CPO) at PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was set at IDR 15,675/kg on Wednesday (11/12/2024), marking a 0.54% decrease, or a drop of around IDR 85/kg, compared to the price on Tuesday (10/12/2024), which stood at IDR 15,760/kg.
According to information from KPBN, the Franco Dumai price was set at IDR 15,675/kg, while the price in Talang Duku was recorded at IDR 15,475/kg.
Meanwhile, as reported by Reuters, Malaysian palm oil futures prices also fell on Wednesday (11/12/2024) as traders engaged in profit-taking following an earlier rise driven by declining November stock levels.
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The benchmark palm oil contract for February 2025 delivery (FCPOc3) on the Malaysia Derivatives Exchange dropped by MYR 16 per ton, or about 0.32%, to MYR 4,935 (USD 1,115.25) per metric ton by the mid-day break.
Referring to the Malaysian Palm Oil Board (MPOB) report, Malaysia’s palm oil stock fell for the second consecutive month in November, down 2.6% from the previous month to 1.84 million tons.
The MPOB also noted that crude palm oil production decreased by 9.8% in November to 1.62 million tons, marking the lowest production level for the month since 2020. Palm oil exports plummeted 14.7% to 1.49 million tons.
In contrast, the most active soybean oil contract on Dalian (DBYcv1) rose by 1.11%, while palm oil contracts (DCPcv1) declined by 1.34%. On the Chicago Board of Trade (BOcv1), soybean oil prices increased by 0.44%.
Detailed KPBN CPO Tender Results (IDR/kg, excluding VAT) for Wednesday (11/12/2024):
- Franco Dumai: IDR 15,675-PAA
- Talang Duku: IDR 15,475-PHPO. (P2)
