JAKARTA – The price of crude palm oil (CPO) at PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom increased to IDR 15,900/kg on Wednesday (4/12/2024). This marks a 0.71% rise, equivalent to an increase of IDR 112/kg, compared to Tuesday’s price (3/12/2024) of IDR 15,788/kg.
According to data from KPBN, the Franco Dumai price was set at IDR 15,900/kg. Meanwhile, the price in Parindu and Ngabang stood at IDR 15,550/kg, and in Kembayan at IDR 15,450/kg.
In parallel, Reuters reported that Malaysian palm oil futures saw gains for the second consecutive session on Wednesday, supported by strengthening vegetable oil prices on the Dalian Commodity Exchange.
The benchmark palm oil contract (FCPOc3) for February 2025 delivery on the Bursa Malaysia Derivatives Exchange rose by MYR 47 per ton or approximately 0.93%, settling at MYR 5,122 (US$ 1,148.17) per metric ton by midday.
Similarly, Dalian’s most active palm oil contract (DCPcv1) gained 1.07%, while its soyoil contract (DBYcv1) rose slightly by 0.05%. However, soyoil on the Chicago Board of Trade dipped 0.57%.
Detailed KPBN Tender Results (IDR/Kg, Excl. VAT) for Wednesday (4/12/2024):
- CPO Franco Dumai: IDR 15,900 (AGM, WNI, IBP)
- Parindu: IDR 15,550 (EUP)
- Ngabang: IDR 15,550 (MNA)
- Kembayan: IDR 15,450 (MNA)
- Lampung: IDR 15,775 (WD); Offers at IDR 12,000 (NINT)
The rise in domestic and international CPO prices reflects a positive trend in the palm oil market, driven by robust demand and favorable developments in the global vegetable oil industry. (T2)
