InfoSAWIT, JAKARTA – Crude palm oil (CPO) tender at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was Rp. 13.155/kg on Thursday (29/8/2024) that meant to get decreased Rp 80/kg or about 0,6% to Wednesday (28/8/2024) tender that was Rp 13.235/kg.

What InfoSAWIT got from KPBN, CPO Franco in Belawan and Dumai was Rp. 13.155/kg.

As quoted from Reuters, CPO contract price at Malaysia Derivatives Exchange got decreased in the third days in a row on Thursday (29/8/2024), it happened for the concern about the decreasing demands because India planned to increase import tax.

CPO contract reference price for November 2024 delivery at Malaysia Derivatives Exchange got decreased RM 11 per ton or about 0,28% to be RM 3.909 (US$ 904,23) per metric ton in the midday.

The government of Malaysia is still considering to increase vegetable oil import tax to help protect the smallholders that were hit by the cheaper soyoil, as two officials mentioned on Wednesday.

This could be announced next weeks to muffle the demands and reduce palm oil purchase from abroad.

Palm oil product exports from Malaysia on 1 - 25 August got decreased between 14,1% and 14,9% from the previous month even though the exports got increased from 16,7% to be 18,4% on 1 - 20 August, as data mentioned by cargo surveyor - Intertek Testing Services and independent inspection company - AmSpec Agri Malaysia showed by the early of this week.

Still from Reuters, soyoil contract price at Dalian got increased 0,03%, CPO contract price got decreased 0,7%. Soyoil contract price at Chicago Board of Trade got increased 0,69%.

Here is tender at KPBN (Rp./Kg), excluded income tax on Thursday (29/8/2024):

CPO_____

Franco Belawan and Dumai Rp 13.155/Kg.

(T2)