InfoSAWIT, JAKARTA – The price of crude palm oil (CPO) at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was set at Rp 13,533/kg on Thursday (January 23, 2025), marking a decrease of 1.00% or a drop of approximately Rp 237/kg compared to the CPO price on Wednesday (January 22, 2025), which reached Rp 13,670/kg.
According to information obtained by InfoSAWIT from KPBN, the CPO prices for Franco Belawan & Dumai were set at Rp 13,533/kg, while the price for CPO in Talang Duku was set at Rp 13,333/kg.
Meanwhile, as reported by Reuters, palm oil futures contracts on the Malaysian Exchange opened lower for the second consecutive session on Thursday (January 23, 2025), dragged down by weakening prices of other vegetable oils.
The benchmark palm oil contract for April 2025 delivery on the Bursa Malaysia Derivatives Exchange fell by RM 64 per ton, or approximately 1.52%, to RM 4,144 (US$ 933.02) per metric ton by midday.
According to Kumar Bagani, Head of Commodity Research at Sunvin Group based in Mumbai, palm oil prices are under pressure due to sell-offs in soybean oil in Chicago and South American soybean oil. This decline was triggered by China, the world's largest soybean buyer, halting shipments of soybeans from Brazil from five companies after the cargoes failed to meet plant health requirements, leading to a wave of selling in the soybean oil market.
Consequently, the most active soybean oil contract on the Dalian Exchange fell by 1.29%, while the palm oil contract dropped by 1.68%. Soybean oil on the Chicago Board of Trade decreased by 0.27%.
Here are the details of the KPBN Tender results (Rp./Kg), excluding VAT for the period of Thursday (January 23, 2025):
CPO_____
Franco Belawan & Dumai: Rp 13,533 - EOP, EUP
FOB Talang Duku: Rp 13,333 - PSCOI
Franco Teluk Bayur: Rp 13,403 (WD). Highest bid: Rp 13,350 - WIRA
Loco Palembang: Rp 13,383 (WD). Highest bid: Rp 13,227 – SAP
CPKO_____
Loco Palembang: Rp 23,435 (WD). Highest bid: Rp 22,600 - SAP
Loco Lampung: Rp 23,578 (WD). Highest bid: Rp 7,100 - SIP
(T2)