PALMOILMAGAZINE, JAKARTA – Crude palm oil (CPO) prices in the global market posted a modest gain on Thursday (April 9, 2026), supported by bargain buying following losses in the previous session. Meanwhile, Indonesia’s domestic market remained cautious, as reflected in another withdrawal during KPBN tenders.
According to Reuters, the benchmark June 2026 CPO futures contract on Bursa Malaysia Derivatives Exchange rose by RM29 per ton, or about 0.63%, to RM4,615 per ton. The rebound came after prices had dropped more than 3% in the prior trading session.
The uptick in global CPO prices was largely driven by the recovery in crude oil prices, which provided positive sentiment across the vegetable oil complex. Short-term support was also reinforced by bargain buying activity.
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In contrast, the domestic market showed a different trend. CPO prices in tenders conducted by PT Kharisma Pemasaran Bersama Nusantara (KPBN) once again ended in withdrawal (WD), with the highest bid recorded at IDR 15,778/kg. Despite the lack of transactions, this figure still marked an increase of IDR 28/kg, or approximately 0.18%, compared to the highest bid on Wednesday (April 8, 2026).
This situation highlights the cautious stance of domestic market participants, who remain hesitant to finalize transactions amid ongoing global volatility and market uncertainty.
On the policy front, the Indonesian government, through the Ministry of Energy and Mineral Resources (ESDM), has reportedly issued regulations outlining the implementation schedule for the biodiesel blending mandate. The policy forms part of the country’s broader strategy to accelerate energy transition and strengthen national energy independence.
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However, global sentiment remains mixed due to varied movements in other vegetable oils. On the Chicago Board of Trade, soybean oil futures rose slightly by 0.44%. Meanwhile, on the Dalian Commodity Exchange, soybean oil futures declined by 0.68%, and palm oil contracts fell by 0.52%.
These divergent trends suggest that the global market is still in a consolidation phase, with traders closely monitoring fundamental factors, including energy prices, government policies, and demand outlook.
Overall, while global CPO prices are beginning to show signs of recovery, Indonesia’s domestic market remains relatively conservative, indicating a gap in price expectations between buyers and sellers. (P3)
