InfoSAWIT, JAKARTA – On Thursday, December 12, 2024, the price of crude palm oil (CPO) at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom experienced a withdrawal (WD) of offers, with the highest bid recorded at Rp 15,488/kg. This marked a 1.19% decrease or a drop of approximately Rp 187/kg from the previous CPO price of Rp 15,675/kg on Tuesday, December 10, 2024.
According to InfoSAWIT's sources at KPBN, the Franco Dumai price was initially set at Rp 15,675/kg, but the withdrawal saw the highest offer reduced to Rp 15,488/kg. Meanwhile, the Talang Duku price was opened at Rp 15,402/kg, but the highest offer fell to Rp 15,328/kg after the withdrawal.
In related news, Reuters reported that CPO futures on the Malaysian Exchange extended their losses during the morning trade on December 12, 2024, following a decline in soybean oil prices on the Chicago Board of Trade.
The February 2025 delivery contract for crude palm oil (FCPOc3) on the Bursa Malaysia Derivatives Exchange dropped by RM 7 per ton, a 0.14% decrease, reaching RM 4,849 (US$ 1,093.84) per metric ton at midday.
"A large-scale selling activity this morning contributed to the drop in palm oil prices, with the previous day’s drop in soybean oil on the Chicago exchange further pressuring palm oil futures," said a trader based in Kuala Lumpur.
Soybean oil futures at the Chicago Board of Trade fell by 0.99%, while active soybean oil contracts on the Dalian Exchange rose by 0.3%. Meanwhile, CPO contracts on the Dalian Exchange dropped by 0.78%.
Here are the KPBN Tender Results for Thursday, December 12, 2024 (excluding VAT):
- CPO
- Dumai: Rp 15,602 (WD). Highest bid: Rp 15,488 - EUP
- Talang Duku: Rp 15,402 (WD). Highest bid: Rp 15,328 - PRISCOLIN
(T2)
