PALMOILMAGAZINE, JAKARTA – The price of crude palm oil (CPO) at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) recorded a decline of 1.55% on Monday, January 6, 2025. The highest bid was Rp. 14,088/kg, reflecting a drop of Rp. 222/kg compared to the highest offer of Rp. 14,310/kg on Friday, January 3, 2025.
According to data from KPBN, the opening price for CPO Franco Belawan was Rp. 14,253/kg, but the session ended with a withdrawal (WD) and the highest bid at Rp. 14,050/kg. Similarly, for Franco Dumai, the opening price was Rp. 14,253/kg, ending with a WD and the highest bid at Rp. 14,088/kg.
Meanwhile, on the Malaysia Derivatives Exchange, CPO futures contracts fell on Monday, January 6, 2025, driven by sluggish demand from India, a key export destination. The benchmark palm oil contract for March 2025 delivery (FCPOc3) dropped by RM 30 per ton or approximately 0.69%, closing at RM 4,338 (US$ 961.86) per metric ton during the mid-day break. This follows a 0.81% rise in the previous session.
Also Read : CPO Prices Fall at KPBN After Holidays, Malaysia Futures Show Recovery
Cargo surveyor Intertek Testing Services and independent inspection firm AmSpec Agri Malaysia reported a decline in Malaysia’s palm oil product exports in December, ranging from 2.5% to 7.8%.
Adding to the pressure, India’s palm oil imports in December hit a nine-month low due to a surge in prices to their highest levels in 2.5 years. The increased costs prompted refiners to shift to soybean oil, which was available at a discount, as reported by five traders last Friday via Reuters.
In related markets, the most active Dalian soybean oil contract (DBYcv1) fell by 1.17%, while the Dalian palm oil contract (DCPcv1) rose by 0.99%. Soybean oil prices on the Chicago Board of Trade (BOcv1) gained 0.28%.
KPBN CPO Tender Results (Rp./Kg, Excluding VAT) for Monday, January 6, 2025:
- Belawan: Rp. 14,253 (WD). Highest bid: Rp. 14,050 (BEST, MNA)
- Dumai: Rp. 14,253 (WD). Highest bid: Rp. 14,088 (AGM)
- Teluk Bayur: Rp. 14,123 (WD). Highest bid: Rp. 13,915 (WNI)
- Talang Duku: Rp. 14,053 (WD). Highest bid: Rp. 13,888 (AGM)
- Palembang: Rp. 14,103 (WD). Highest bid: Rp. 13,685 (SAP). (P2)