Palm Oil Magazine - CPO Price at KPBN Inacom Decreased by IDR 94/kg on Wednesday (24/7)

PALMOILMAGAZINE, JAKARTA – Crude palm oil (CPO) tender prices at PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom were withdrawn (WD) with the highest bid at IDR 12,710/kg on Wednesday (24/7/2024). The price decreased by IDR 94/kg, or around 0.73%, from the price on Tuesday (23/7/2024), which reached IDR 12,804/kg.

According to information from KPBN, the price of CPO Franco in Belawan was IDR 12,757/kg, but was withdrawn with the highest bid of IDR 12,710/kg. Similarly, the price of CPO Franco in Dumai was at IDR 12,757/kg, but it was also WD with the highest bid at IDR 12,702/kg.

In Lampung, the CPKO price was at IDR 18,655/kg, but was withdrawn with the highest offer at IDR 17,825/kg.

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Meanwhile, in Malaysia as quoted from Reuters, the price of CPO contracts on the Malaysia Derivatives Exchange fell for the second consecutive session on Wednesday due to higher projected production compared to demand in the country.

CPO reference contract – FCPO1 for October 2024 delivery at Malaysia Derivatives Exchange got cheaper RM 14 per ton or about 0,35% to be RM 3.955 (US$ 846,71) per ton in the midday.

Still from Reuters, the traders anticipated the higher production in July after data published by mill associations showed the output in Semenanjung Malaysia in the southern on 1-20 July got escalated 17,8% to the same period in last month, as the analysts mentioned.

Soyoil contract price at Dalian (DBYcv1) got decreased 0,03%, CPO contract price (CPO1) did too 0,9%. Soyoil price at Chicago Board of Trade (ZL1) did decrease 1,2%.

Here are tenders at KPBN (Rp./Kg), excluded income tax on Wednesday (24/7/2024):

CPO: