PALMOILMAGAZINE, JAKARTA – Indonesia’s crude palm oil (CPO) tender conducted by PT Kharisma Pemasaran Bersama Nusantara (KPBN) ended in withdrawal once again on Monday, although the highest offers increased from the previous trading session.
According to market data obtained by Palmoilmagazine.com, the highest bid for CPO reached IDR15,415 per kilogram, an increase of IDR57 per kilogram, or approximately 0.37%, compared with Friday’s highest offer of IDR15,358 per kilogram.
For Franco Dumai deliveries, the opening price was set at IDR15,600 per kilogram. However, the tender concluded in withdrawal after the highest bid reached only IDR15,415 per kilogram. Meanwhile, CPO FOB Talang Duku opened at IDR15,400 per kilogram and ended in withdrawal with the highest offer at IDR15,145 per kilogram.
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At FOB Teluk Bayur, the opening price stood at IDR15,470 per kilogram, but the tender also ended without a transaction after the highest bid reached IDR15,265 per kilogram.
While Indonesia’s domestic market continued to experience withdrawals, the international palm oil market showed a more positive trend. Malaysian palm oil futures extended gains for a second consecutive session on the Bursa Malaysia Derivatives Exchange.
The benchmark September 2026 CPO contract rose RM8 per metric ton, or approximately 0.17%, to RM4,654 per ton during the midday trading session. Earlier in the day, the contract climbed to RM4,692 per ton, its highest level since early May 2026.
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The rally in Malaysian palm oil was supported by gains in competing vegetable oils and a weaker Malaysian ringgit against the U.S. dollar, which improved the competitiveness of Malaysian exports.
In other vegetable oil markets, soybean oil futures on the Chicago Board of Trade advanced approximately 0.72%. Meanwhile, palm oil futures on the Dalian Commodity Exchange gained 0.53%, while the most active soybean oil contract on the same exchange edged up 0.01%.
The performance of these markets indicates that global vegetable oil fundamentals continue to support palm oil prices, as palm oil competes directly with other edible oils in the international market.
Additional positive sentiment came from export demand. Data from cargo surveyor Intertek Testing Services (ITS) showed that Malaysian palm oil product exports during June 1–20 reached 907,067 metric tons, representing a 19.1% increase compared with the corresponding period in the previous month.
The stronger export performance suggests that global demand for palm oil remains resilient and has become one of the key factors supporting international prices.
Under these conditions, Indonesia’s domestic CPO market continues to seek a new balance between seller expectations and buyer bids, while the strengthening trend in Malaysian palm oil futures could provide additional support for domestic CPO prices in the coming days. (P3)
