Palm Oil Magazine - CPO Prices at KPBN Inacom Drop 2.50% on Tuesday (17/12)

PALMOILMAGAZINE, JAKARTA – The price of crude palm oil (CPO) at PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom Withdraw (WD) with the highest offer of Rp. 15,200 / kg on Tuesday (17/12/2024), thus the price of CPO was recorded to have decreased by 2.50% or there was a decrease of around Rp. 389 / kg, compared to the price of CPO on Monday (16/12/2024) which reached Rp. 15,589 / kg.

From the information obtained by Palmoilmagazine.com from KPBN, the Dumai CPO price opened at Rp. 15,327 / kg, there was a withdrawal (WD) with the highest price offer of Rp. 15,200 / kg. Teluk Bayur price opened at IDR 15,197 / Kg, there was a withdrawal (WD) with the highest price offer of IDR 15,065 / kg. South Kalimantan CPO price opened at IDR 14,927/Kg, there was a withdrawal (WD) with the highest price offer of IDR 14,200/kg.

Meanwhile, as reported by Reuters, the price of Palm oil futures on Bursa Malaysia fell for the third consecutive session on Tuesday, (17/12/2024) pressured by weak demand from key destination markets.

ALso Read: CPO Price at KPBN Inacom Rose Slightly on Monday (16/12)

Bursa Malaysia Derivatives Exchange’s benchmark contract price fell RM 34 per ton or about 0.71%, to RM 4,724 (US$ 1,058.01) per metric ton at the closing session.

Record palm oil futures prices were pressured by lower Chicago soybean oil futures prices and lack of fresh demand from destination markets amid deep negative import margins, especially in India, said Anilkumar Bagani, Head of Commodity Research at Mumbai-based Sunvin Group.

The price of the most-active Dalian soybean oil contract fell 0.23%, while the price of its palm oil contract fell 1.2%. Soybean oil prices on the Chicago Board of Trade rose 0.07%.

The following are the details of the KPBN Tender results (Rp./Kg), Excld VAT for the period Tuesday (17/12/2024):

CPO: