PALMOILMAGAZINE, JAKARTA – Crude palm oil (CPO) offered through PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom was again withdrawn (WD) during trading on May 29, 2026. Although none of the tenders met sellers’ target prices, the highest bids recorded a significant increase compared with the previous auction.
According to data obtained by Palmoilmagazine.com from KPBN, the highest CPO bid reached IDR 13,355 per kilogram, up IDR 955 per kilogram, or approximately 7.7%, from the highest bid of IDR 12,400 per kilogram recorded on May 26, 2026.
For Franco Belawan and Kuala Tanjung, the opening price was set at IDR 14,896 per kilogram. However, the tender ended without a transaction after the highest bid reached only IDR 13,355 per kilogram.
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Meanwhile, CPO FOB Talang Duku opened at IDR 14,696 per kilogram and was also withdrawn, with the highest offer recorded at IDR 13,155 per kilogram.
In West Sumatra, Franco Teluk Bayur opened at IDR 14,766 per kilogram and ended withdrawn after receiving a top bid of IDR 13,225 per kilogram.
In West Kalimantan, CPO Loco Ngabang opened at IDR 14,546 per kilogram and attracted a highest bid of IDR 12,940 per kilogram. Loco Parindu, which opened at the same level, received a top bid of IDR 12,865 per kilogram, while Loco Kembayan opened at IDR 14,446 per kilogram with a highest offer of IDR 12,790 per kilogram. All three tenders were withdrawn.
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CPO Loco Luwu opened at IDR 14,396 per kilogram but received only a bid of IDR 8,000 per kilogram, resulting in another withdrawn tender.
In the crude palm kernel oil (CPKO) market, Franco Belawan and Kuala Tanjung opened at IDR 30,368 per kilogram and were withdrawn after receiving a highest bid of IDR 29,075 per kilogram from UOCI. Franco Dumai opened at the same price and attracted a top bid of IDR 28,630 per kilogram from IBP, while CPKO Betung opened at IDR 30,124 per kilogram with a highest offer of IDR 28,600 per kilogram from AMJP.
For palm kernel (PK), the Franco Medan/Belawan price was recorded at IDR 13,490 per kilogram.
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In the global market, CPO futures on Bursa Malaysia Derivatives closed mixed on May 30, 2026, as traders monitored ongoing volatility in global energy markets that could influence vegetable oil prices.
The June 2026 CPO contract gained RM8 to settle at RM4,470 per tonne. However, the July and August contracts each slipped RM2 to RM4,503 per tonne and RM4,535 per tonne, respectively.
Meanwhile, the September 2026 contract rose RM1 to RM4,561 per tonne. October futures added RM5 to RM4,590 per tonne, while November futures advanced RM9 to RM4,620 per tonne.
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Trading activity strengthened considerably, with volume increasing to 76,012 lots from 59,830 lots in the previous session. Open interest also edged higher to 285,715 contracts from 285,564 contracts.
In the physical market, the June South CPO price remained unchanged at RM4,490 per tonne.
Malaysia’s palm oil market will enter a two-day holiday break next week, with Bursa Malaysia and its subsidiaries closed on June 1–2, 2026, in observance of the King’s Birthday and the replacement holiday for Wesak Day. Trading will resume on June 3.
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Although KPBN tenders continued to be withdrawn, the sharp rise in bid prices suggests improving sentiment in Indonesia’s palm oil market, supported by firmer global CPO prices in recent sessions. The development could provide additional support for fresh fruit bunch (FFB) prices received by oil palm growers across the country in the coming weeks. (P3)
