Indonesia failed to sell a total of 4,500 tonnes of palm oil in government and private tenders on Wednesday due to low bids. Indonesia's biggest listed plantation firm, PT Astra Agro Lester TDK, failed to sell 2,500 tonnes of palm oil in a tender.
Astra Agro offered 500 tonnes of crude palm oil (CPO) at 3,725 rupiah ($0.416) a kg ex-factory Rio at Sumatra Island, the company said in a statement.
It offered 2,000 tonnes of CPO at 3,695 rupiah per kg, free on board Kumai port in Central Kalimantan province on the Indonesian side of Borneo Island. The company received highest bids at 3,691 rupiah and 3,658 rupiah per kg respectively.
The centre, which sells palm oil produced by state plantations, received highest bid at 3,835 rupiah per kg, below its offer price of 3,867 rupiah.
On Tuesday, the centre sold 1,500 tonnes of CPO at 3,933 rupiah per kg, while Astra Agro sold 500 tonnes at 3,790 rupiah.
Comments
Comments are closed.