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CPO Prices at KPBN Inacom Withdraw on Tuesday (December 17), CPO Prices on the Malaysian Exchange Still Corrected



Doc. of InfoSAWIT/The office of PT. Kharisma Pemasaran Bersama Nusantara (KPBN).
CPO Prices at KPBN Inacom Withdraw on Tuesday (December 17), CPO Prices on the Malaysian Exchange Still Corrected

InfoSAWIT, JAKARTA – The price of crude palm oil (CPO) at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom Withdraw (WD) recorded the highest offer at IDR 15,200/kg on Tuesday (December 17, 2024), marking a decrease of 2.50% or approximately IDR 389/kg compared to the CPO price on Monday (December 16, 2024), which reached IDR 15,589/kg.

According to information obtained by InfoSAWIT from KPBN, the CPO price in Dumai opened at IDR 15,327/kg, with a withdrawal (WD) at the highest offer of IDR 15,200/kg. The price in Teluk Bayur opened at IDR 15,197/kg, with a withdrawal (WD) at the highest offer of IDR 15,065/kg. The CPO price in Kalsel opened at IDR 14,927/kg, with a withdrawal (WD) at the highest offer of IDR 14,200/kg.

Meanwhile, as reported by Reuters, the futures contract price of palm oil on the Malaysian Exchange plummeted for the third consecutive session on Tuesday (December 17, 2024), pressured by weak demand from major destination markets. The benchmark contract price on the Bursa Malaysia Derivatives Exchange fell by RM 34 per ton or approximately 0.71%, to RM 4,724 (USD 1,058.01) per metric ton at the close of the session.

The futures price of palm oil was pressured by lower soybean oil futures prices in Chicago and a lack of new demand from destination markets amid deep negative import margins, particularly in India, said Anilkumar Bagani, Head of Commodity Research at Mumbai-based Sunvin Group. The most active soybean oil contract in Dalian fell by 0.23%, while the palm oil contract dropped by 1.2%. Soybean oil prices on the Chicago Board of Trade rose by 0.07%.

Here are the details of the KPBN Tender Results (IDR/kg), Excluding VAT for the period of Tuesday (December 17, 2024):

CPO_____

Dumai: IDR 15,327 (WD). Highest offer: IDR 15,200-WNI

Teluk Bayur: IDR 15,197 (WD). Highest offer: IDR 15,065-WNI

Kalsel: IDR 14,927 (WD). Highest offer: IDR 14,200-WNI

CPKO_____

Belawan: IDR 26,146-MNA

Palembang: IDR 25,782 (WD). Highest offer: IDR 24,950-SAP

(T2)


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