PALMOILMAGAZINE, JAKARTA – Indonesia’s domestic crude palm oil (CPO) market remained under pressure on Wednesday (July 22, 2026), with the PT Kharisma Pemasaran Bersama Nusantara (KPBN) tender ending in a withdrawal (WD), while Bursa Malaysia Derivatives (BMD) extended its losing streak into a second consecutive trading session.
According to data obtained by Palmoilmagazine.com from KPBN, the highest CPO offer reached IDR 15,511/kg, down IDR 164/kg, or approximately 1.05%, from the previous trading session when the highest bid stood at IDR 15,675/kg.
For the Franco Dumai tender, the opening price was set at IDR 15,700/kg. However, no transaction was concluded after the highest offer reached only IDR 15,511/kg, resulting in the tender being declared withdrawn. Likewise, the Franco Teluk Bayur tender failed to secure a deal. It opened at IDR 15,570/kg, but the highest bid came in at IDR 15,304/kg, leading to another withdrawal.
Also Read: GAPKI: Indonesia’s Palm Oil Output Slips in May 2026, but CPO Stocks Rise to 3.04 Million Tons
The palm kernel (PK) tender for Loco PKS Talang Lebar also ended without a transaction. Although the opening price was IDR 14,340/kg, the highest bid reached only IDR 9,500/kg, prompting another withdrawal.
Meanwhile, bearish sentiment continued to dominate the global palm oil market. On Wednesday (July 23, 2026), the benchmark October 2026 CPO futures contract on Bursa Malaysia Derivatives fell RM6 per tonne, or about 0.13%, to RM4,604 per tonne, marking the second straight day of declines.
The weakness was largely driven by lower prices in competing vegetable oil markets. On the Dalian Commodity Exchange (DCE), the most-active soybean oil contract dropped 1.1%, while palm oil futures declined 0.51%. At the Chicago Board of Trade (CBOT), soybean oil futures also eased 0.47%, reducing the competitiveness of palm oil in international markets.
Also Read: Indonesia Cuts July 2026 CPO Reference Price to USD 1,000.90 per Ton Amid Weak Global Demand
Despite the recent pullback, the short-term outlook remains relatively stable. The Malaysian Palm Oil Council (MPOC) expects Malaysian CPO prices to trade within a range of RM4,400–RM4,650 per tonne throughout August 2026, supported by balanced global supply and demand fundamentals.
Market participants are now closely watching production trends in major producing countries, export performance, and movements in competing vegetable oils, all of which are expected to remain key drivers of CPO price direction in the weeks ahead. (P3)
