InfoSAWIT, JAKARTA – Crude palm oil (CPO) tender at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was in withdraw (WD) with the highest bid Rp. 12.907/kg on Wednesday (7/8/2024). It meant to get cheaper Rp 212/kg or about 1,62% to Tuesday (6/8/2024) tender that was Rp 13.119/kg.

What InfoSAWIT got from KPBN, CPO Franco in Belawan and Dumai was Rp 13.504/kg but in WD with the highest bid Rp 12.907/kg.  CPO in Talang Duku was Rp. 12.854/kg but in WD with the highest bid Rp 12.690/kg. In Ngabang it was Rp. 12.704/kg but in WD with the highest bid Rp 12.525/kg.

As quoted from Reuters, CPO contract price at Malaysia Derivatives Exchange got cheaper in the morning session on Wednesday (7/8/2024) or became the fourth decreasing price in a row because of the projection of the increasing stock.

CPO reference contract price for November 2024 delivery at Malaysia Derivatives Exchange got cheaper 0,1 percent to be RM 2.710 (US$ 634,96) per ton in the midday after it hit the lowest level since 21 August at RM 2.708 per ton before the session. CPO contract price got decreased 2,6 percent after it hit the highest level for the past five months last week.

CPO stock in August could be increasing when the exports decreased from the previous month while the production could be higher in numbers, as traders mentioned.

Surveyor Intertek Testing Services reported that palm oil exports from Malaysia on 1 - 25 August got decreased 8,1 percent from the previous period last month.

Here are tenders at KPBN (Rp./Kg), excluded income tax on Wednesday (7/8/2024):

CPO______

Franco Belawan and Dumai Rp. 13.054 (WD) with the highest bid Rp. 12.907-PII, PPI

Talang Duku Rp. 12.854 (WD) with the highest bid Rp. 12.690-PII

Ngabang Rp. 12.704 (WD) with the highest bid Rp. 12.525-EUP

(T2)