In an effort to jack up price, PT Kharisma Pemasaran Bersama Nusantara Joint Marketing Office (further referred to as KBPN) would again run a monthy export tender to be conducted on May 18, 2010. Azis Kahar, Marketing Manager of CPO KPBN disclosed to Business News Wednesday (26/5) by phone that after not running an export tender for a long time, now the momentum was right to do so.
The domestic economic climate seemed not condusive to price increasing, so the corporate felt it necessary to attempt to jack up price. “If there were any factor at all which could increase price of CPO, we wish that it were due to fundamental factor, not because of the weakening of the Rupiah value against the US dollar, due to the economic crisis in Greece today” Azis remarked.
In a tender conducted on May 18, 2010, of the 2.500 tones of CPO being offered, 1,000 tons of CPO of PTPN III (FOB Belawan) was purchased by Inter Continental Oils Fats Pte at the price of US$ 765/ton.
Eventually the 1,000 tons of CPO of PTPN IV and 500 tons CPO of PTPN V (FOB Dumai) was bought by the same company and shipping was to be carried out in June 2010. Intercontinental was among the 9 bidder in the tender being in the position of the highest bidder at US$ 764/ton, while the lowest bidder was Indoham and Sindopalm at the price of US$ 734/ton.
Domestic Price and Tender of Local CPO
Based on the report of monitoring of price and distribution of basic – necessity commodities of the Directorate General of Domestic Trading, Ministry of Trade, the national average price of frying oil by May 26 was Rp 9,390/kg down by Rp 5/kg against price of May 25 of Rp 9,395/kg. The average price through May 2010 compared to average price of April 2010 was up by Rp 38/kg. The highest price was in Manokwari: i.e. Rp 14,300 kg and the lowest in Semarang Rp 8,460/kg.
Meanwhile the following list illustrates price development of local CPO tender from May 17, 2010 to May 26, 2010 :
| Date of Tender | Price (Rp/kg) FOB Belawan and Dumai |
| | |
| 17 May | 7.267 |
| 19 May | 7.349 |
| 20 May | 7.449 |
| 21 May | 7.481 |
| 24 May | 7.477 |
| 25 May | 7.471 |
| 26 May | 7.506 |
| | |
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