PALMOILMAGAZINE, JAKARTA – Indonesia’s domestic crude palm oil (CPO) market strengthened on Thursday (July 23, 2026), with PT Kharisma Pemasaran Bersama Nusantara (KPBN) setting the Franco Dumai CPO price at IDR 15,800 per kilogram, up IDR 289/kg or 1.86% from Wednesday’s (July 22) highest offer of IDR 15,511/kg.
Based on the tender results obtained by Palmoilmagazine.com from KPBN, Franco Teluk Bayur CPO opened at IDR 15,670/kg but ended in withdrawal (WD) after receiving a highest bid of IDR 15,496/kg. Meanwhile, FOB Palembang CPO was successfully priced at IDR 15,650/kg.
At Loco PKS Parindu, the opening price was IDR 15,450/kg, but the tender was also withdrawn, with the highest offer reaching IDR 15,150/kg.
In the downstream market, Crude Palm Kernel Oil (CPKO) FOB Palembang opened at IDR 33,464/kg, while FOB Lampung CPKO opened at IDR 33,634/kg. Both tenders were withdrawn, with highest bids recorded at IDR 32,560/kg and IDR 31,600/kg, respectively.
The Palm Kernel (PK) tender at Loco PKS Tanjung Lebar also ended in withdrawal. The commodity opened at IDR 14,351/kg, but the highest bid reached only IDR 9,500/kg.
Meanwhile, in the international market, Bursa Malaysia Derivatives opened higher, supported by gains in global vegetable oil markets and firmer crude oil prices.
Also Read: Indonesian Lawmaker Urges Stable CPO Supply as B50 Biodiesel Boosts Palm Oil Downstream Industry
According to Reuters, the benchmark October 2026 CPO futures contract rose RM89 per metric ton, or 1.93%, to RM4,711 per metric ton in early trading, reversing losses recorded over the previous several sessions.
The rally was reinforced by stronger performance across major vegetable oil markets. On the Dalian Commodity Exchange, the most active soybean oil futures gained 0.66%, while palm oil futures surged 2.53%. In the United States, soybean oil futures on the Chicago Board of Trade (CBOT) also advanced 0.89%, providing additional support for global palm oil prices.
Market participants expect the combination of stronger vegetable oil prices and higher energy markets to remain the key drivers of palm oil trading in the near term, as investors continue to monitor global supply conditions and the outlook for biodiesel demand. (P3)
