1. Bursa Malaysia CPO Price Update (Today’s Closing)
In the international market, Crude Palm Oil (FCPO) prices remained sluggish due to the strengthening of the Ringgit and weak export demand.
- Closing Price: RM 4,114 per ton
- Change: Significant drop of -RM 48 (approx. -1.15%)
- Sentiment: The market reacted negatively to surplus stocks ahead of the MPOB data release.
2. KPBN CPO Price (Indonesian Local Market)
In line with Malaysia, the tender price at Kharisma Pemasaran Bersama Nusantara (KPBN) failed to sustain the IDR 14,500 level.
- Today’s Price: IDR 14,345/kg (Status: Withdraw / Down)
- Yesterday’s Price: IDR 14,500/kg
- Margin: A decrease of IDR 155/kg
Why are CPO Prices Dropping Today?
Don’t be surprised by the IDR 14,345 figure; here are the factors behind the scenes you need to know:
- Malaysia’s Bleeding Market: The drop to RM 4,114 on Bursa Malaysia acted as a psychological burden for domestic tender participants.
- Other Vegetable Oils: Global soybean oil prices are currently under pressure, causing CPO’s competitiveness to falter.
- Profit Taking: Major players are pulling profits after last week’s rally, forcing prices to “park” at lower levels.