PALMOILMAGAZINE, JAKARTA – Indonesia’s domestic crude palm oil (CPO) market extended its gains on Thursday (July 2), with prices at PT Kharisma Pemasaran Bersama Nusantara (KPBN) rising despite subdued sentiment in the international palm oil market.
According to KPBN tender results, Franco Dumai CPO was priced at IDR 15,545 per kilogram, up IDR 128 per kilogram, or approximately 0.83%, from the previous day’s highest bid of IDR 15,417 per kilogram.
Data obtained by Palmoilmagazine.com showed that the FOB Talang Duku tender opened at IDR 15,345 per kilogram, but was ultimately withdrawn after the highest bid reached only IDR 15,190 per kilogram. Likewise, the Franco Teluk Bayur tender opened at IDR 15,415 per kilogram before being withdrawn, with the highest offer recorded at IDR 15,260 per kilogram.
Meanwhile, activity on the Bursa Malaysia Derivatives remained subdued as traders continued to assess the outlook for rising Malaysian palm oil production against relatively weak export demand.
Reuters reported that the benchmark September 2026 CPO futures contract fell by RM10 per metric ton, or 0.22%, to RM4,547 per metric ton (approximately USD 1,113.91) during the midday trading session.
Market participants are now focused on the upcoming monthly report from the Malaysian Palm Oil Board (MPOB), scheduled for release on July 10, 2026. The report, covering production, inventories, domestic consumption, and exports, is expected to provide fresh direction for the global palm oil market in the near term.
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Across the broader vegetable oils market, price movements were mixed. The most active soybean oil contract on the Dalian Commodity Exchange gained 0.48%, while palm oil futures on the same exchange slipped 0.32%. In the United States, soybean oil futures on the Chicago Board of Trade (CBOT) also advanced 0.21%, reflecting mixed sentiment across global edible oil markets. (P2)
