InfoSAWIT, JAKARTA – Indonesia’s state palm oil marketing platform, KPBN Inacom, recorded another round of withdrawn (WD) tenders on Tuesday (23/6/2026), reflecting weaker market sentiment amid declining palm oil futures in Malaysia.

The highest bid for CPO reached Rp15,315 per kilogram, down Rp100 per kilogram, or approximately 0.65 percent, from the previous day’s highest offer of Rp15,415 per kilogram.

According to KPBN data obtained by InfoSAWIT, CPO offered at Franco Dumai opened at Rp15,550 per kilogram but was withdrawn after the highest bid reached only Rp15,315 per kilogram. Similar withdrawals occurred at Talang Duku and Teluk Bayur.

The softer domestic market coincided with a decline in Malaysian palm oil futures. Reuters reported that the benchmark September 2026 palm oil contract on Bursa Malaysia Derivatives fell 0.71 percent to RM4,639 per ton during midday trading.

Market sentiment was pressured by weaker soybean oil prices on the Chicago Board of Trade, declining edible oil futures in China’s Dalian market, and a stronger Malaysian ringgit.

Despite the correction, export demand remained supportive. Cargo surveyor Intertek Testing Services (ITS) reported that Malaysian palm oil exports during June 1–20 increased 19.1 percent from the previous month, while AmSpec Agri Malaysia estimated a stronger 25 percent increase over the same period.

The combination of firm export demand and softer competing vegetable oil prices continues to shape short-term market direction for palm oil traders. (T2)