InfoSAWIT, JAKARTA – The price of crude palm oil (CPO) at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was set at Rp. 14,726/kg on Monday (December 23, 2024), marking an increase of 0.37% or approximately Rp 55/kg compared to the highest offer price of CPO on Friday (December 20, 2024), which reached Rp. 14,671/kg.
According to information obtained by InfoSAWIT from KPBN, the price of CPO Franco Belawan was set at Rp. 14,726/Kg. The price of CPO Teluk Bayur was set at Rp. 14,596/Kg, while the price of CPO Talang Duku was set at Rp. 14,526/Kg.
Meanwhile, as reported by Reuters, the price of palm oil futures contracts on the Malaysian Exchange rose on Monday (December 23, 2024), ending a six-session decline, supported by rising soybean oil prices on the Dalian Exchange and because traders were buying contracts at more economical prices after recent price drops.
The benchmark palm oil contract FCPOc3 for March 2025 delivery on the Malaysian Derivatives Exchange rose RM 56 per ton or approximately 1.26%, to RM 4,489 (US$ 1,000.45) per metric ton at midday.
Crude palm oil traded higher as investors absorbed contracts at more economical prices following recent declines and because several vegetable oil prices rose, including soybean oil on the Dalian Exchange and canola futures, said Anilkumar Bagani, Head of Commodity Research at Sunvin Group.
The most active Dalian soybean oil contract DBYcv1 rose 0.83%, while the palm oil contract DCPcv1 fell 0.48%. The soybean oil price on the Chicago Board of Trade BOcv1 fell 0.2%. The futures price of rapeseed oil on the Zhengzhou Commodity Exchange rose 0.86%.
Here are the details of the KPBN Tender Results (Rp./Kg), Excld VAT for the period of Monday (December 23, 2024): CPO_____ Belawan & Dumai Rp. 14,726-MM, IBP Teluk Bayur Rp. 14,596-WIRA. Talang Duku Rp. 14,526-MM (T2)