PALMOILMAGAZINE, JAKARTA – After the Christmas and New Year holidays, crude palm oil (CPO) prices on the Indonesian Commodity Market (KPBN Inacom) fell significantly on Friday (3/1/2025).
CPO prices in Dumai closed at IDR 14,310/kg, marking a decrease of IDR 548/kg compared to the trading price on Tuesday (24/12/2024), which was IDR 14,858/kg.
In Belawan, CPO prices opened at IDR 14,454/kg, with the highest bid recorded at IDR 14,310/kg. Meanwhile, in Teluk Bayur, CPO prices closed with the highest bid at IDR 14,120/kg.
In contrast, palm oil futures prices on the Bursa Malaysia rose on Friday (3/1/2025), according to Reuters. The increase was driven by India’s ramped-up purchases over the past two days, even though weekly CPO prices remained in decline.
The benchmark palm oil futures contract FCPOc3 for March 2025 delivery on the Bursa Malaysia Derivatives Exchange rose by 0.48% to 4,354 ringgit ($968.63) per metric ton during the mid-day break. However, the contract recorded a weekly decline of 5.84%.
“Palm oil futures seemed to shrug off early trading losses as India, the world’s largest vegetable oil importer, increased palm oil purchases, buying approximately 100,000 metric tons in the first two working days of 2025,” said Anilkumar Bagani, Head of Research at Mumbai-based vegetable oil brokerage Sunvin Group.
Elsewhere, the most active Dalian soybean oil contract (DBYcv1) fell by 2.61%, and its palm oil contract (DCPcv1) dropped by 2.82%. Meanwhile, Chicago Board of Trade soybean oil futures (BOcv1) rose by 0.52%.
KPBN CPO Tender Results (IDR/Kg), Excluding VAT, Friday (3/1/2025):
- Belawan: IDR 14,454 (WD). Highest bid: IDR 14,310 (EOP).
- Dumai: IDR 14,454 (WD). Highest bid: IDR 14,305 (EUP).
- Teluk Bayur: IDR 14,324 (WD). Highest bid: IDR 14,120 (WNI).
- Talang Duku: IDR 14,254 (WD). Highest bid: IDR 14,130 (PRISCOLIN).
- Palembang: IDR 14,304 (WD). Highest bid: IDR 13,890 (SAP). (P3)
