InfoSAWIT, JAKARTA – Crude palm oil (CPO) tenders conducted by PT Kharisma Pemasaran Bersama Nusantara (KPBN) remained withdrawn on Monday (June 22), despite higher bid prices compared to the previous trading session. The development came as Malaysian palm oil futures continued their upward momentum, supported by stronger rival edible oils and robust export demand.
According to market data obtained by InfoSAWIT from KPBN, the highest CPO bid reached Rp15,415 per kilogram, representing an increase of Rp57/kg, or approximately 0.37%, compared to the highest bid recorded on Friday (June 19), which stood at Rp15,358/kg.
At the Dumai tender, CPO was offered at Rp15,600/kg on a Franco basis. However, the tender was withdrawn after the highest bid reached Rp15,415/kg. Similarly, the FOB Talang Duku tender opened at Rp15,400/kg but was withdrawn despite a top bid of Rp15,145/kg. In Teluk Bayur, the offering price was set at Rp15,470/kg, while the highest bid reached Rp15,265/kg before the tender was also withdrawn.
The continued withdrawal of KPBN tenders reflects a cautious stance among sellers amid expectations of firmer market conditions, as both domestic and international palm oil fundamentals remain supportive.
Malaysian Palm Oil Futures Reach Six-Week High
Meanwhile, palm oil futures on the Bursa Malaysia Derivatives Exchange extended gains for a second consecutive session on Monday, driven by stronger performances in competing vegetable oil markets and a weaker Malaysian ringgit.
According to Reuters, the benchmark September 2026 palm oil contract rose RM8 per ton, or approximately 0.17%, to RM4,654 per ton by the midday break.
Earlier in the trading session, the contract climbed to RM4,692 per ton, marking its highest level since May 6, 2026, before paring some of its gains.
Market participants noted that palm oil prices were supported by rising soybean oil prices in Chicago and the depreciation of the ringgit against the U.S. dollar, although weaker crude oil prices limited further upside.
On the Chicago Board of Trade (CBOT), soybean oil futures gained 0.72%, while palm oil futures on China’s Dalian Commodity Exchange rose 0.53%. The most-active soybean oil contract in Dalian also edged up by 0.01%.
Palm oil typically tracks movements in competing edible oils, as these commodities compete for market share in the global vegetable oils market.
Strong Export Demand Supports Market Sentiment
Additional support came from Malaysia’s export performance. Data released by independent cargo surveyor Intertek Testing Services (ITS) showed that Malaysian palm oil product exports during the period of June 1–20 increased by 19.1% month-on-month to 907,067 tons.
The strong export growth has reinforced expectations that global demand for palm oil remains resilient despite ongoing market volatility and uncertainty surrounding energy prices.
Industry observers are also closely monitoring Indonesia’s upcoming implementation of the B50 biodiesel mandate in July 2026, which is expected to increase domestic palm oil consumption and potentially tighten exportable supplies from the world’s largest palm oil producer.
KPBN Tender Results – June 22, 2026 (Excluding VAT)
CPO_____
Franco Dumai: Opened at Rp15,600/kg – Withdrawn (Highest bid: Rp15,415/kg – IBP)
FOB Talang Duku: Opened at Rp15,400/kg – Withdrawn (Highest bid: Rp15,145/kg – MM)
Franco Teluk Bayur: Opened at Rp15,470/kg – Withdrawn (Highest bid: Rp15,265/kg – WIRA)
Loco PKS Luwu: No bidder
With Malaysian futures holding near six-week highs and Indonesia preparing for the rollout of B50 biodiesel blending, market participants expect palm oil prices to remain firm in the near term, although fluctuations in crude oil and competing vegetable oils will continue to influence market direction. (T2)
