PALMOILMAGAZINE, JAKARTA – Indonesia’s crude palm oil (CPO) tender conducted by PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom ended in withdrawal (WD) on Friday (July 24, 2026), with the highest bid recorded at IDR 15,768 per kilogram, down IDR 32/kg, or approximately 0.20%, from IDR 15,800/kg in the previous trading session.
According to market information from KPBN, the Franco Dumai CPO tender opened at IDR 15,900/kg but was withdrawn after the highest offer reached only IDR 15,768/kg. Likewise, the Franco Teluk Bayur tender opened at IDR 15,770/kg and closed in withdrawal, with the highest bid standing at IDR 15,620/kg.
In the downstream market, Crude Palm Kernel Oil (CPKO) FOB Palembang opened at IDR 33,798/kg but also ended in withdrawal, with the highest bid at IDR 32,650/kg. Meanwhile, CPKO FOB Lampung opened at IDR 33,968/kg and closed withdrawn after attracting a top bid of IDR 32,000/kg.
The Palm Kernel (PK) tender at Loco PKS Tanjung Lebar followed a similar trend, opening at IDR 14,430/kg before ending in withdrawal with the highest offer of just IDR 9,400/kg.
While Indonesia’s domestic market softened, the international palm oil market continued to strengthen. Malaysian CPO futures climbed to their highest level in 15 weeks, supported by a rally in global energy prices, stronger vegetable oil futures on China’s Dalian Commodity Exchange, and expectations of tighter Indonesian export supplies following the implementation of the country’s mandatory B50 biodiesel program.
According to Reuters, the benchmark October 2026 CPO contract on the Bursa Malaysia Derivatives Exchange gained RM41 per metric ton, or 0.87%, to RM4,751 per metric ton during midday trading. The contract has risen approximately 3.35% this week, marking its third consecutive week of gains.
Also Read: Malaysian CPO Prices Extend Decline as Weaker Global Vegetable Oils Pressure the Market
Elsewhere in the vegetable oil market, the most-active soybean oil contract on the Dalian Commodity Exchange advanced 0.88%, while Dalian palm oil futures climbed 1.33%. In contrast, soybean oil futures on the Chicago Board of Trade (CBOT) edged down 0.23%.
The divergence between Indonesia’s domestic tender market and international futures highlights differing market dynamics. Although KPBN tenders continue to face withdrawals, global sentiment toward palm oil remains constructive, with traders anticipating stronger domestic consumption in Indonesia under the B50 biodiesel mandate, which is expected to reduce export availability and tighten global palm oil supplies in the months ahead. (P3)
