InfoSAWIT, JAKARTA — The price of crude palm oil (CPO) at PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom rose to Rp 15,330/kg on Wednesday (November 6, 2024), marking a slight increase of 0.13% or around Rp 20/kg compared to the previous day’s price of Rp 15,310/kg.

According to information received by InfoSAWIT from KPBN, the Franco Belawan & Dumai price was set at Rp 15,330/kg, while palm kernel oil (CPKO) in Belawan was priced at Rp 22,860/kg.

Meanwhile, as reported by Reuters, futures contracts for palm oil on the Malaysia Exchange rose on Wednesday, supported by higher soybean oil prices on the Dalian Commodity Exchange and a weakening ringgit. Traders are also awaiting signals from the upcoming Indonesian Palm Oil Conference (IPOC) later this week and new data from the Malaysian Palm Oil Board, expected next week.

The benchmark palm oil contract FCPOc3 for January 2025 delivery on the Malaysia Derivatives Exchange gained RM 28 per metric ton, or about 0.58%, reaching RM 4,834 (US$ 1,098.64) per metric ton at the midday break.

In Dalian, the most active soybean oil contract, DBYcv1, rose 0.39%, while Dalian’s palm oil contract, DCPcv1, declined slightly by 0.08%. On the Chicago Board of Trade, soybean oil prices BOcv1 fell by 0.69%.

KPBN Tender Results (Rp/kg), Excluding VAT for Wednesday (November 6, 2024):

CPO_____

- Franco Belawan & Dumai: Rp 15,330 - BEST, EUP

CPKO_____

- Belawan: Rp 22,860 - MM

- Palembang: Rp 22,312 - IKIN

- Lampung: Rp 22,455 (WD). Highest bid: Rp 10,000 - AMJP

(T2)