InfoSAWIT, JAKARTA – The price of Crude Palm Oil (CPO) at PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom decreased slightly on Tuesday, November 12, 2024. KPBN set the CPO price at IDR 15,738/kg, marking a 0.32% dip or a decrease of IDR 50/kg from Monday’s price of IDR 15,788/kg.

According to KPBN data obtained by InfoSAWIT, the Franco price at Belawan and Dumai stood at IDR 15,738/kg. Meanwhile, CPO prices at Talang Duku were set at IDR 15,538/kg, and at Teluk Bayur, IDR 15,608/kg.

The decline in CPO prices at KPBN aligns with trends in the Malaysian futures market. As reported by Reuters, Malaysian palm oil futures dropped on Tuesday, November 12, following a high close the previous day—the highest since mid-June 2022. The decline was attributed to weaker crude oil prices and drops in rival vegetable oil prices on the Dalian and Chicago exchanges.

The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange fell by MYR 71 per ton, or around 1.37%, settling at MYR 5,125 (US$1,158.45) per metric ton by the afternoon. This drop ended a four-session rally in palm oil futures.

Additionally, the most active soybean oil contract on the Dalian exchange fell by 2.01%, with the palm oil contract there slipping by 0.33%. Soybean oil prices on the Chicago Board of Trade also declined by 1.58%.

Below are the detailed KPBN tender results (Rp/kg, excluding VAT) for Tuesday, November 12, 2024:

CPO:

- Franco Belawan & Dumai: IDR 15,738 (MM, IBP)

- Talang Duku: IDR 15,538 (MM)

- Teluk Bayur: IDR 15,608 (WIRA)

CPKO:

- Belawan: IDR 25,883 (WD), highest offer: IDR 23,525 (MM)

- Lampung: IDR 25,612 (WD), highest offer: IDR 22,525 (IKI)

(T2)