CPO Prices at KPBN Inacom Drop by 1.83% on Thursday (19/12)

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CPO Prices at KPBN Inacom Drop by 1.83% on Thursday (19/12). Photo by: Sawit Fest 2021 / Atqiyaudin Basr

PALMOILMAGAZINE, JAKARTA – The crude palm oil (CPO) price at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was set at Rp. 14,646/kg on Thursday (19/12/2024), reflecting a decrease of 1.83% or about Rp 273/kg compared to Wednesday’s price (18/12/2024), which was Rp. 14,919/kg.

According to information from KPBN, CPO prices in Dumai were set at Rp. 14,646/kg, while prices in Teluk Bayur were recorded at Rp. 14,516/kg.

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Meanwhile, Reuters reported that Malaysian palm oil futures declined for the fifth consecutive session on Thursday (19/12/2024), weighed down by uncertainties surrounding biofuel policies in Indonesia and the US.

Also Read: CPO Price at KPBN Inacom Plummeted on Wednesday (18/12)

The palm oil futures contract FCPOc3 for March 2025 delivery on the Malaysia Derivatives Exchange closed down 0.38% at RM 4,512 (US$ 1,002.00) per metric ton. During the session, the contract fell by as much as 3% and briefly rose by 0.73%.

Crude palm oil continued its sell-off since Wednesday following a shift in sentiment in the global vegetable oil market this week, said Anilkumar Bagani, Head of Commodity Research at Mumbai-based Sunvin Group.

Indonesia’s plan to expand its biodiesel mandate starting January, potentially restricting global palm oil supply, seems likely to be implemented gradually, according to analysts, as industry players push for a phased approach.

The US government funding bill released Tuesday includes plans to allow year-round sales of gasoline with a higher ethanol blend, known as E15. Traders noted that increased corn-based ethanol blending in the US could reduce demand for soybean oil used in biodiesel production.

On the Dalian Commodity Exchange, the most active soybean oil contract (DBYcv1) dropped 3.48%, while palm oil contracts (DCPcv1) declined 3.83%. Soybean oil prices on the Chicago Board of Trade (BOcv1) rose 1.01%.

Detailed KPBN CPO Tender Results (Rp./Kg, Excl. VAT) for Thursday (19/12/2024):

  • Franco Dumai: Rp. 14,646 – PAA, AGM
  • Teluk Bayur: Rp. 14,516 – WIRA. (P2)
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