InfoSAWIT, JAKARTA – The price of crude palm oil (CPO) at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) experienced a withdrawal with the highest offer at Rp. 14,671/kg on Friday (December 20, 2024). Consequently, the CPO price recorded a slight increase of 0.17%, or an increase of approximately Rp 25/kg, compared to the CPO price on Thursday (December 19, 2024), which reached Rp. 14,646/kg.
According to information obtained by InfoSAWIT from KPBN, the CPO price for Franco Belawan opened at Rp. 14,684/Kg, but there was a withdrawal (WD) with the highest offer at Rp. 14,671/Kg. The CPO price for Franco Dumai opened at Rp. 14,684/Kg, also experiencing a withdrawal (WD) with the highest offer at Rp. 14,500/Kg. Meanwhile, the CPO price for Teluk Bayur opened at Rp. 14,554/Kg, with a withdrawal (WD) and the highest offer at Rp. 14,370/Kg.
Referring to InfoSAWIT's calculations, during the period from December 16-20, 2024, the average CPO price at KPBN recorded a decrease of Rp 678.20/kg, bringing it down to Rp 15,005.00/kg, which represents a decline of approximately 4.32% compared to the average CPO price during the previous week (December 9-13, 2024), which was Rp. 15,683.20/kg.
Meanwhile, as reported by Reuters, the price of palm oil futures contracts on the Malaysian Exchange rebounded from early declines on Friday (December 20, 2024) after Indonesia raised its export levies, although prices remained on track for a second weekly decline.
The benchmark palm oil contract FCPOc3 for March 2025 delivery on the Bursa Malaysia Derivatives Exchange was little changed at RM 4,506 (US$ 999.11) per metric ton at midday, after falling as much as 2.1% earlier in the day. However, the palm oil contract price has dropped about 8.1% over the week.
The Indonesian Minister of Economic Affairs announced on Thursday that the export levy for crude palm oil would be increased to 10% from the current 7.5% to fund higher biodiesel subsidies.
The most active soybean oil contract on Dalian DBYcv1 rose 0.45%, while the palm oil contract DCPcv1 fell 1.22%. The soybean oil price on the Chicago Board of Trade BOcv1 increased by 0.12%.
Here are the details of the KPBN Tender results (Rp./Kg), Excld VAT for the period of Friday (December 20, 2024): CPO_____ Belawan Rp. 14,684 (WD). Highest offer Rp. 14,671-BEST Dumai Rp. 14,684 (WD). Highest offer Rp. 14,500-IBP. Teluk Bayur Rp. 14,554 (WD). Highest offer Rp. 14,370-WIRA (T2)