CPO Price at Inacom KPBN Slightly Increases on December 20, 2024, Amid Weekly Downward Trend

Palm Oil Magazine
CPO Price at Inacom KPBN Slightly Increases on December 20, 2024, Amid Weekly Downward Trend. Photo by: Palm Oil Magazine

PALMOILMAGAZINE, JAKARTA – The price of crude palm oil (CPO) at PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom recorded a Withdraw (WD) with the highest bid of Rp. 14,671/kg on Friday (20/12/2024). This marks a 0.17% increase or approximately Rp. 25/kg compared to the price on Thursday (19/12/2024), which stood at Rp. 14,646/kg.

According to information from KPBN Inacom, the CPO price for Franco Belawan opened at Rp. 14,684/kg and closed with a WD at the highest bid of Rp. 14,671/kg. Meanwhile, the Franco Dumai price opened at Rp. 14,684/kg and recorded a WD at Rp. 14,500/kg. The Teluk Bayur CPO price opened at Rp. 14,554/kg and saw a WD at the highest bid of Rp. 14,370/kg.

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Based on calculations by Palmoilmagazine.com, during the period of 16-20 December 2024, the average KPBN CPO price decreased by Rp. 678.20/kg to Rp. 15,005.00/kg. This represents a 4.32% decline compared to the previous week’s average price of Rp. 15,683.20/kg (9-13 December 2024).

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Meanwhile, as reported by Reuters, the price of CPO futures on Bursa Malaysia recovered from an early decline on Friday, (20/12/2024) after Indonesia raised its export levy, although prices remained on track for a second weekly decline.

The price of the benchmark FCPOc3 palm oil contract for March 2025 delivery on the Bursa Malaysia Derivatives Exchange was little changed at RM 4,506 (US$ 999.11) per metric ton at the midday break, after falling as much as 2.1% earlier in the day. However, the price of the palm oil contract has fallen about 8.1% over the week.

Indonesia’s top economic minister on Thursday said it would increase its export levy on crude palm oil to 10% from the current 7.5% to finance higher biodiesel subsidies.

The price of Dalian’s most-active soybean oil contract DBYcv1 rose 0.45%, while the price of its palm oil contract DCPcv1 fell 1.22%. The price of soybean oil on the Chicago Board of Trade BOcv1 rose 0.12%.

The following are the details of the CPO Tender results at KPBN (Rp./Kg), Excld VAT for the period Friday (20/12/2024):

  • Belawan Rp. 14,684 (WD). The highest offer is Rp. 14,671-BEST
  • DUmai IDR 14,684 (WD). Highest bid Rp. 14,500-IBP.
  • Teluk Bayur Rp. 14,554 (WD). Highest bid Rp. 14,370-WIRA. (P2)
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