PALMOILMAGAZINE, JAKARTA – The crude palm oil (CPO) price at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom experienced a Withdraw (WD) on Thursday, December 12, 2024, with the highest offer recorded at IDR 15,488/kg. This marks a 1.19% decrease, or a reduction of IDR 187/kg, compared to Tuesday’s (December 10, 2024) price of IDR 15,675/kg.
According to Palmoilmagazine.com data from KPBN, in Dumai CPO Price opened at IDR 15,675/kg but faced a Withdraw (WD), with the highest bid at IDR 15,488/kg. In Talang Duku opened at IDR 15,402/kg, also encountering a Withdraw (WD), with the top offer at IDR 15,328/kg.
Meanwhile, as reported by Reuters, Malaysian palm oil futures extended losses during early Thursday trading, mirroring weaker soybean oil prices on the Chicago Board of Trade (CBOT).
Also Read: CPO Prices Decline at KPBN and Malaysian Exchange on Wednesday, 11/12/2024
The February 2025 palm oil futures contract (FCPOc3) on the Malaysia Derivatives Exchange fell by MYR 7 per metric ton, a 0.14% decline, settling at MYR 4,849 (USD 1,093.84) per metric ton by midday.
“Futures prices declined significantly due to strong selling activity in the morning session. Overnight weakness in palm oil on the Chicago exchange also pressured futures prices downward,” commented a Kuala Lumpur-based trader. (P2)
