InfoSAWIT, JAKARTA – The price of crude palm oil (CPO) at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom fell by 0.38% to IDR 15,940/kg on Monday, December 9, 2024. This marks a decrease of IDR 60/kg compared to Friday, December 6, 2024, when the price stood at IDR 16,000/kg.

According to KPBN's official information, the Franco Belawan and Dumai price was set at IDR 15,940/kg.

Meanwhile, Malaysian palm oil futures experienced a decline on the same day. Reuters reported that CPO prices followed the downtrend in vegetable oil prices on the Dalian and Chicago exchanges. Traders were awaiting new data from the Malaysian Palm Oil Board (MPOB) for further market insights.

The February 2025 palm oil futures contract (FCPOc3) on the Bursa Malaysia Derivatives Exchange dropped by MYR 47 per ton, equivalent to a 0.92% decline, to close at MYR 5,081 (US$ 1,149.55) per metric ton at midday.

According to a Reuters survey, Malaysia’s palm oil stockpiles are expected to decline for the second consecutive month in November. Heavy rainfall disrupted production, with floods reported in Malaysia following persistent rains in November. The country’s meteorological department forecast another wave of monsoon rains from December 8 to 14, potentially causing continuous rainfall in the eastern coast of Peninsular Malaysia and parts of Sabah and Sarawak on Borneo Island.

Other vegetable oil markets also saw price drops. The most active soybean oil contract on the Dalian Commodity Exchange (DBYcv1) fell 0.84%, while its palm oil contract (DCPcv1) slid 0.78%. In Chicago, soybean oil prices (BOcv1) declined by 0.77%.

KPBN Tender Results (Monday, December 9, 2024)

CPO_____

Franco Belawan & Dumai: IDR 15,940/kg (excluding VAT), awarded to MM, AGM, and IBP.

This market activity reflects ongoing concerns over supply and weather disruptions in major producing regions, alongside fluctuations in global vegetable oil markets. (T2)