InfoSAWIT, JAKARTA – The price of crude palm oil (CPO) at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom fell to IDR 15,760/kg on Tuesday (Dec. 10, 2024), marking a 1.13% decrease, equivalent to IDR 180/kg, from the previous day’s price of IDR 15,940/kg on Monday (Dec. 9, 2024).
According to information obtained by InfoSAWIT from KPBN, the price of CPO for Franco Belawan and Dumai was set at IDR 15,760/kg, while CPO in Teluk Bayur was priced at IDR 15,630/kg.
On the international stage, Reuters reported a decline in Malaysian palm oil futures on the same day, following the release of industry performance data by the Malaysian Palm Oil Board (MPOB). Benchmark palm oil futures for February 2025 delivery (FCPOc3) on the Bursa Malaysia Derivatives Exchange fell by RM 82 per metric ton, or approximately 1.6%, to RM 5,038 (US$ 1,138.27) per metric ton by midday.
The MPOB report revealed that Malaysia's palm oil stockpiles decreased for the second consecutive month in November, falling 2.6% from the previous month to 1.84 million tons. Crude palm oil production dropped 9.8% to 1.62 million tons, while palm oil exports plummeted 14.7% to 1.49 million tons during the same period.
Heavy rainfall in late November caused flooding across Malaysia last week, particularly affecting major palm oil-producing regions such as Sabah and Sarawak. Malaysia’s meteorological department has predicted a monsoon season from Dec. 8 to 14, which could bring continuous rain to the eastern coast of Peninsular Malaysia and parts of Borneo, potentially disrupting palm oil production.
Meanwhile, other vegetable oil markets showed mixed trends. Palm oil contracts on the Dalian Commodity Exchange (DCPcv1) fell 0.31%, while its most active soybean oil contract (DBYcv1) rose by 0.36%. In Chicago, soybean oil futures (BOcv1) dropped by 0.79%.
Detailed KPBN Tender Results (Prices in IDR/Kg, Excluding VAT) for Dec. 10, 2024
CPO
- Franco Belawan & Dumai: IDR 15,760 (ACI, WNI, AGM)
- Teluk Bayur: IDR 15,630 (WNI)
CPKO
- Belawan: IDR 25,801 (MNA)
- Palembang: IDR 24,437 (IKIN)
The current price trends reflect broader shifts in both local and global palm oil markets, influenced by supply chain dynamics, weather disruptions, and market performance.
(T2)
