InfoSAWIT, JAKARTA – The price of crude palm oil (CPO) at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom rose to IDR 15,976/kg on Thursday (Dec. 5, 2024). This represents a 0.48% increase, or IDR 76/kg higher than Wednesday's (Dec. 4, 2024) price of IDR 15,900/kg.

According to information from KPBN, the Franco price for Belawan and Dumai was set at IDR 15,900/kg.

Meanwhile, Malaysian palm oil futures also saw gains on Thursday, supported by expectations of declining November stock levels. The February 2025 palm oil contract (FCPOc3) on the Bursa Malaysia Derivatives Exchange rose by MYR 70, or approximately 1.39%, to MYR 5,102 (USD 1,152.47) per metric ton during the mid-day break.

A Reuters survey indicated that Malaysia's palm oil stockpile is projected to decrease to 1.79 million tons in November, marking the second consecutive monthly decline. The drop is attributed to heavy rains that disrupted production.

“Low stock levels in Malaysia will support palm oil prices, particularly as Indonesian palm oil exports are expected to remain tight due to the upcoming B40 biodiesel mandate and Ramadan festivities in the first quarter of next year,” explained Anilkumar Bagani, Head of Commodity Research at Mumbai-based Sunvin Group.

In contrast, soybean oil prices exhibited mixed trends. The most active soybean oil contract on the Dalian Commodity Exchange (DBYcv1) dropped 0.28%, while Dalian palm oil futures (DCPcv1) fell 0.89%. On the Chicago Board of Trade, soybean oil gained 0.75%.

KPBN Tender Results for Thursday, Dec. 5, 2024 (Excluding VAT):

• CPO
  Franco Belawan & Dumai: IDR 15,976 (MNA, MM, WNI, AGM)

With Malaysian stocks declining and regional market dynamics tightening, the upward momentum in CPO prices is expected to persist in the near term. (T2)