PALMOILMAGAZINE, JAKARTA – Crude palm oil (CPO) traded through PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom recorded a withdrawal (WD) on Tuesday (February 3, 2026), with the highest bid reaching IDR 14,800 per kg. The level marked a decline of IDR 325 per kg, or around 2.15%, compared with Monday’s (February 2, 2026) CPO price of IDR 15,125 per kg.
Based on information obtained by Palmoilmagazine.com from KPBN, the CPO Franco Dumai tender opened at IDR 15,000 per kg. However, the tender ended in a withdrawal, as the highest bid stopped at IDR 14,800 per kg, preventing the transaction from proceeding.
The weakness in the domestic CPO market was in line with developments on the global stage. Referring to Bernama, crude palm oil prices on the Bursa Malaysia Derivatives closed lower on Tuesday, pressured by the strengthening of the Malaysian ringgit against the US dollar, which raised concerns over near-term demand for palm oil.
Also Read: Indonesia Raises February CPO Reference Price, Export Duty and Levy Increase
At around 6:00 p.m. local time, the ringgit strengthened to 3.9295/9360 per US dollar, compared with last Friday’s close at 3.9440/9500. The appreciation came as trading resumed following the Thaipusam and Federal Territory Day holidays.
At the close of trade, the February 2026 CPO contract fell RM20 to RM4,140 per tonne. The March and April 2026 contracts each declined by RM14 to RM4,195 and RM4,215 per tonne, respectively.
Further along the curve, the May 2026 contract slipped RM11 to RM4,217 per tonne, while the June and July 2026 contracts each eased RM9 to RM4,204 and RM4,185 per tonne.
Also Read: PUSTAKA ALAM Accuses Forest Task Force of Defying Court Rulings in HGU Palm Estate Seizures
Trading activity also slowed. Total volume dropped to 58,671 lots from 84,668 lots in the previous Friday’s session. Open interest edged down to 219,350 contracts from 220,712 contracts, reflecting a more cautious stance among market participants.
Meanwhile, the physical CPO price for February delivery in Southern Malaysia was reported down RM10 to RM4,190 per tonne, underscoring the continued short-term pressure on the palm oil market.
KPBN Inacom Tender Results (IDR/kg, excluding VAT) – Tuesday, February 3, 2026:
CPO
- Franco Dumai: IDR 15,000 (WD)
Highest bid: IDR 14,800 – EUP
CPKO
- Franco Dumai: IDR 27,860 – IBP
(P2)
