PALMOILMAGAZINE, Jakarta – Crude palm oil (CPO) prices at PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom were set at IDR 14,500/kg on Monday (March 2, 2026), marking an increase of IDR 100/kg or approximately 0.69% compared to Friday’s (February 27, 2026) level of IDR 14,400/kg.
According to data obtained from KPBN, the CPO price for Franco Belawan, Kuala Tanjung, and Dumai was fixed at IDR 14,500/kg. Meanwhile, the FOB Talang Duku price was set at IDR 14,300/kg, and Loco Sei Tapung stood at IDR 14,261/kg. There was no bidder recorded for Loco Luwu.
On the global front, CPO futures on Bursa Malaysia Derivatives closed higher on the same day, supported by a sharp rally in global crude oil prices amid escalating tensions between the United States and Iran. The strengthening of crude oil prices has boosted sentiment across the vegetable oil complex.
Also Read: Indonesia Sets March 2026 CPO Reference Price at USD 938.87/MT, Export Duties Adjusted
Senior analyst at Fastmarkets Palm Oil Analytics, Sathia Varqa, noted that CPO futures contracts rose by more than RM100, tracking the significant gains in crude oil driven by the deepening Middle East conflict. Higher crude oil prices typically enhance the competitiveness of palm-based biodiesel, reinforcing positive momentum in the edible oil market.
At the close, the March 2026 contract gained RM69 to RM4,058 per ton. April 2026 jumped RM102 to RM4,132 per ton, while May 2026 climbed RM105 to RM4,147 per ton.
Contracts for June, July, and August 2026 each rose RM104, settling at RM4,150, RM4,147, and RM4,142 per ton, respectively.
Also Read: India Cancels South American Soybean Oil Contracts Amid Price Surge
Trading volume increased to 85,168 lots from 63,409 lots in the previous session. However, open interest declined to 224,728 contracts from 227,706 contracts earlier.
In the physical market, the March CPO price for the Southern region rose RM40 to RM4,090 per ton.
KPBN Tender Results (IDR/kg, excl. VAT) – Monday, March 2, 2026:
CPO:
- Franco Belawan, Kuala Tanjung & Dumai: IDR 14,500 (MM, IBP)
- FOB Talang Duku: IDR 14,300 (MM)
- Loco Sei Tapung: IDR 14,261 (AGM)
- Loco Luwu: No bidder
The combination of firmer domestic tender prices and a strong rally in Malaysian futures signals renewed bullish sentiment in the palm oil market at the start of the week. (P2)
