InfoSAWIT, JAKARTA – The price of crude palm oil (CPO) at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was set at IDR 15,788/kg on Monday, November 11, 2024, marking a 1.57% increase or approximately IDR 244/kg from the previous rate of IDR 15,544/kg on Friday, November 8.
According to information obtained by InfoSAWIT from KPBN, the Franco Belawan & Dumai price was set at IDR 15,788/kg, and the CPO price at Talang Duku was set at IDR 15,588/kg.
Meanwhile, Reuters reported that Malaysian palm oil futures remained steady on Monday, November 11, 2024, as the market awaited the release of monthly data from the Malaysian Palm Oil Board (MPOB). The benchmark FCPOc3 contract for January 2025 delivery on the Bursa Malaysia Derivatives Exchange was unchanged at RM 5,101 (US$ 1,158.00) per metric ton by the midday break.
The latest data from MPOB indicated that Malaysia’s palm oil stockpiles at the end of October decreased by 6.32% month-on-month to 1.88 million metric tons. Meanwhile, according to cargo surveyor Intertek Testing Services, Malaysia’s palm oil product exports for the November 1–10 period fell by 15.8% to 429,455 metric tons compared to the previous month.
Additionally, in other vegetable oil markets, the most active soybean oil contract on the Dalian exchange (DBYcv1) fell by 0.16%, while its palm oil contract (DCPcv1) rose by 1.68%. Soybean oil on the Chicago Board of Trade (BOcv1) also showed a slight increase of 0.18%.
Below are the details of KPBN’s tender results (in IDR/kg, excluding VAT) for Monday, November 11, 2024:
CPO Tender Results:
- Franco Belawan & Dumai: IDR 15,788 – MNA, WNI
- Talang Duku: IDR 15,588 – WNI
(T2)
