PALMOILMAGAZINE, JAKARTA – The price of crude palm oil (CPO) at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was set at Rp 13,533/kg on Thursday (23/1/2025), marking a 1% decrease or a drop of Rp 237/kg compared to the price of Rp 13,670/kg on Wednesday (22/1/2025).
According to information from KPBN, the CPO price for Franco Belawan and Dumai was set at Rp 13,533/kg, while the price in Talang Duku was recorded at Rp 13,333/kg.
Meanwhile, Reuters reported that Malaysian palm oil futures fell for the second consecutive session on Thursday, dragged down by weaker prices of other vegetable oils.
Also Read: CPO Prices at KPBN Inacom Drop 1.06% on Wednesday, January 22, 2025
The benchmark palm oil futures for April 2025 delivery on the Bursa Malaysia Derivatives Exchange dropped by RM 64 per ton, or 1.52%, to RM 4,144 (US$ 933.02) per metric ton by midday.
Ikumar Bagani, Head of Commodities Research at Mumbai-based Sunvin Group, explained that palm oil prices were pressured by a sell-off in soybean oil on the Chicago Board of Trade and in South America. This sell-off was triggered by China, the world’s largest soybean buyer, halting soybean shipments from five Brazilian companies due to plant health concerns, sparking a wave of selling in the soybean oil market.
As a result, the most active Dalian soybean oil contracts dropped by 1.29%, while its palm oil contracts fell by 1.68%. Soybean oil on the Chicago Board of Trade also declined by 0.27%.
KPBN Tender Results (Rp/kg, Excluding VAT) for Thursday (23/1/2025):
CPO:
- Franco Belawan & Dumai: Rp 13,533-EOP, EUP
- FOB Talang Duku: Rp 13,333-PSCOI
- Franco Teluk Bayur: Rp 13,403 (WD). Highest bid: Rp 13,350-WIRA
- Loco Palembang: Rp 13,383 (WD). Highest bid: Rp 13,227-SAP
CPKO:
- Loco Palembang: Rp 23,435 (WD). Highest bid: Rp 22,600-SAP
- Loco Lampung: Rp 23,578 (WD). Highest bid: Rp 7,100-SIP
(P2)