InfoSAWIT, JAKARTA – The price of crude palm oil (CPO) at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) was withdrawn with the highest offer at Rp 14,310/kg on Friday, January 3, 2025. Consequently, the CPO price recorded an increase of 0.9%, or approximately Rp 132/kg, compared to the CPO price on Tuesday, December 24, 2024, which reached Rp 14,858/kg.

According to information obtained by InfoSAWIT from KPBN, the CPO price for Franco Belawan opened at Rp 14,454/kg but was withdrawn with the highest offer at Rp 14,310/kg. Similarly, the CPO price for Franco Dumai opened at Rp 14,454/kg but was also withdrawn with the highest offer at Rp 14,305/kg.

Meanwhile, as reported by Reuters, the futures price of palm oil on the Malaysian exchange reversed early losses on Friday, January 3, 2025, as India, the world's largest vegetable oil importer, increased its purchases over the past two days, although CPO prices still experienced a weekly decline.

The benchmark palm oil contract FCPOc3 for March 2025 delivery on the Bursa Malaysia Derivatives Exchange rose by 0.48% to 4,354 ringgit ($968.63) per metric ton at midday. It was noted that this contract had dropped by 5.84% so far this week.

"The futures price of palm oil seems to disregard early trading weakness due to India's increased purchases of palm oil, buying around 100,000 metric tons in the first two working days of 2025," said Anilkumar Bagani, head of research at Sunvin Group, a Mumbai-based vegetable oil brokerage.

Additionally, the most active Dalian soybean oil contract saw a decline of 2.61%, while its palm oil contract dropped by 2.82%. In contrast, the Chicago Board of Trade soybean oil futures rose by 0.52%.

Here are the details of the KPBN Tender results (Rp./Kg), Excluding VAT for the period of Friday, January 3, 2025:

CPO____

Belawan: Rp 14,454 (WD). Highest offer: Rp 14,310-EOP

Dumai: Rp 14,454 (WD). Highest offer: Rp 14,305-EUP

Teluk Bayur: Rp 14,324 (WD). Highest offer: Rp 14,120-WNI

Talang Duku: Rp 14,254 (WD). Highest offer: Rp 14,130-PRISCOLIN

Palembang: Rp 14,304 (WD). Offer: Rp 13,890-SAP

(T2)

Disclaimer: This article is for informational purposes only and does not contain investment recommendations.