InfoSAWIT, JAKARTA – The price of crude palm oil (CPO) at PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom increased to Rp 15,350/kg on Friday, November 15, 2024. This marks a 0.63% rise, or an increase of Rp 96/kg, compared to the previous day’s price of Rp 15,254/kg on Thursday, November 14, 2024.
According to information obtained from KPBN, the Franco Dumaiprice was set at Rp 15,350/kg, while the price in Talang Duku was recorded at Rp 15,159/kg.
Based on calculations by InfoSAWIT, the weekly average CPO price for the period of November 11–15, 2024, increased by Rp 64.20/kg to reach Rp 15,457/kg, reflecting a 0.42% rise compared to the previous week’s average of Rp 15,392.80/kg during the period of November 4–8, 2024.
Meanwhile, according to a Reuters report, Malaysia’s crude palm oil futures saw gains on Friday after three consecutive losing sessions. However, the market was on track for its first weekly decline in four weeks as traders awaited export data for further direction.
The benchmark palm oil futures for January 2025 delivery on the Bursa Malaysia Derivatives Exchange rose RM 14 per ton, equivalent to a 0.28% increase, closing at RM 4,978 (US$ 1,112.15) per metric ton at midday.
Despite the day’s increase, palm oil futures prices recorded a 2.41% decline over the week.
Other related commodity prices showed mixed trends:
- Dalian’s most active soybean oil contract dropped by 0.91%, while its palm oil contract rose by 0.53%.
- On the Chicago Board of Trade, soybean oil prices gained 0.43%.
KPBN Tender Results (Excluding VAT) for Thursday, November 14, 2024
CPO_____
- Franco Dumai: Rp 15,350 (WNI)
- Talang Duku: Rp 15,159 (PRISCOLIN)
CPKO (Crude Palm Kernel Oil)_____
- Belawan: Rp 25,425 (WD); highest bid Rp 24,709 (SDS)
- Lampung: Rp 25,204 (WD); highest bid Rp 23,310 (IKIN)
The upward movement in CPO prices highlights ongoing fluctuations in the market amid global trade dynamics and demand uncertainties. (T2)
