InfoSAWIT, JAKARTA – The price of crude palm oil (CPO) at PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was set at IDR 16,000/kg on Friday, December 6, 2024. This marks a 0.15% increase or an addition of approximately IDR 24/kg compared to Thursday’s price (IDR 15,976/kg).
Based on InfoSAWIT’s data from KPBN, the price for Franco Dumai was set at IDR 16,000/kg. Meanwhile, prices at other locations were recorded as follows: Talang Duku at IDR 15,800/kg and Teluk Bayur at IDR 15,870/kg.
For the week spanning December 2-6, 2024, KPBN’s average CPO price rose by IDR 633.50/kg to IDR 15,864.00/kg, reflecting a 4.16% increase compared to the previous week’s average price of IDR 15,230.50/kg for November 25-29, 2024.
Global Market Trends
In contrast, Reuters reported that palm oil futures on the Malaysia Derivatives Exchange saw a decline on Friday due to supply concerns, including unfavorable weather in Malaysia. However, weekly performance still showed an upward trend for the second consecutive week.
The February 2025 palm oil futures contract (FCPOc3) on the Malaysian Derivatives Exchange dropped by MYR 20 per ton, or 0.39%, to MYR 5,115 (approximately USD 1,157.24) per metric ton during the midday session. Despite this, the contract has gained 1.89% for the week so far.
According to Paramalingam Supramaniam, Director of Bestari Protective Brokerage in Selangor, the contract weakened due to subdued demand, especially for January deliveries, as market participants awaited further guidance from the Malaysian Palm Oil Board’s November performance data.
Additionally, prices for the most active soybean oil contracts on Dalian Commodity Exchange (DBYcv1) and palm oil contracts (DCPcv1) fell by 0.28% and 0.8%, respectively. In the Chicago Board of Trade, soybean oil dropped by 0.09%.
KPBN Tender Results for Friday (Dec 6, 2024):
- Franco Dumai: IDR 16,000/kg – AGM
- Talang Duku: IDR 15,800/kg – AGM
- Teluk Bayur: IDR 15,870/kg – WIRA
These price movements underscore the dynamic nature of the global and local palm oil markets as stakeholders monitor supply and demand trends. (T2)
