InfoSAWIT, JAKARTA – Crude palm oil (CPO) prices at PT Kharisma Pemasaran Bersama Nusantara (KPBN) remained under withdrawal (WD) status on Thursday (21/5/2026), as bearish sentiment continued to dominate both domestic and international palm oil markets.

The highest bid for CPO during the KPBN tender session was recorded at Rp12,285 per kilogram, plunging Rp2,215/kg or around 15.21% compared to Wednesday’s highest offer of Rp14,500/kg.

Based on information obtained by InfoSAWIT from KPBN, CPO Franco Belawan and Dumai opened at Rp15,065/kg but ended in withdrawal, with the highest offer reaching only Rp12,510/kg. Similar conditions were seen across several trading locations, including Talang Duku, Teluk Bayur, Ngabang, Parindu, Kembayan, Luwu, and Tanjung Merah.

Palm oil futures on the Bursa Malaysia Derivatives Exchange also weakened further, extending losses for a second consecutive trading session amid sluggish export demand and pressure from the broader vegetable oil market.

Reuters reported that the benchmark August 2026 CPO contract on Bursa Malaysia fell RM55 per ton, or about 1.2%, to RM4,528 per ton during the midday trading break. Market sentiment weakened after cargo surveyors estimated that Malaysian palm oil exports for May 1–20 declined between 13.9% and 20.5% compared to the previous month.

The decline in exports added to bearish market sentiment, especially as competing vegetable oils also moved lower. On the Dalian Commodity Exchange, the most-active soybean oil contract dropped 0.61%, while Dalian palm oil futures slipped 1%. Soybean oil prices on the Chicago Board of Trade (CBOT) also fell around 0.43%.

The prolonged withdrawal trend in KPBN tenders reflects cautious buying interest as traders monitor weakening global demand, volatile vegetable oil markets, and uncertainty surrounding Indonesia’s upcoming export governance reforms for strategic commodities, including palm oil. (T2)