InfoSAWIT, JAKARTA – Crude palm oil (CPO) tender at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was Rp 12.758/kg but in withdraw (WD) with the highest bid Rp. 12.718/kg on Thursday (27/6/2024). It meant to get cheaper Rp 32/kg or about 0,06% to Wednesday (26/6/2024) tender that was Rp 12.750/kg.

What InfoSAWIT got from KPBN, CPO Franco in Belawan and Dumai was Rp 12.758/kg but in WD with the highest bid Rp. 12.718/kg. Crude palm kernel oil (CPKO) in Lampung was Rp 16.689/kg but in WD with the highest bid Rp. 14.000/kg.

As quoted from Reuters, CPO contract price at Malaysia Derivatives Exchange got decreased on Thursday (27/6/2024) because of the decreasing demands, and the impacts from India that would change import duty for vegetable oils even though the production got decreased to support the increasing price.

CPO reference contract price with the code FCPO1 for September 2024 delivery at Malaysia Derivatives Exchange got cheaper RM 18 per ton or about 0,46% to be RM 3.861 (US$ 818,53) in the midday.

India, the biggest vegetable oils importer in the world, on Wednesday, published permits to get corn oil, sunflower oil, processed canola oil, and powder milk imports in limited numbers, based on tariff-rate quota (TRQ) which meant, the importers should pay import duty zero or lower. This could be the way of the Government of India to minimize food inflation.

Cargo surveyors - Intertek Testing Services and AmSpec Agri Malaysia reported that the exports from Malaysia on 1 - 25 June got decreased between 16,1% and 16,9% to May in the same period.

Still from Reuters, soyoil contract price at Dalian (DBYcv1) got increased 0,34%, CPO contract price (DCPcv1) was traded flat. Soyoil price at Chicago Board of Trade (BOcv1) got increased 0,1%.

Here are tenders at KPBN (Rp./Kg), excluded income tax on Thursday (27/6/2024):

CPO_____

Franco Belawan and Dumai Rp. 12.758 (WD) wth the highest bid Rp. 12.718-MM, IBP

CPKO_____

Lampung Rp. 16.859 (WD) with the highest bid Rp. 14.000-AMJP

(T2)