InfoSAWIT, JAKARTA – Indonesia's state-owned palm oil marketing agency, PT Kharisma Pemasaran Bersama Nusantara (KPBN), recorded a withdraw (WD) in its crude palm oil (CPO) tender on Monday (July 6), as the highest bid fell below the offered price despite a stronger performance in the Malaysian palm oil futures market.
According to information obtained by InfoSAWIT from KPBN, the highest bid for Franco Dumai reached Rp15,362 per kilogram, down Rp123/kg, or approximately 0.79%, from Rp15,485/kg recorded on Friday (July 3).
The Franco Dumai tender opened at Rp15,600/kg, but ended in a withdrawal after the highest offer remained at Rp15,362/kg. Meanwhile, the FOB Talang Duku tender opened at Rp15,470/kg, with the highest bid reaching Rp15,203/kg, also resulting in a withdrawal. In contrast, Loco Sei Tapung was successfully traded at Rp15,361/kg.
Despite the subdued bidding activity in Indonesia, the Bursa Malaysia Derivatives (BMD) closed higher, supported by gains in Chicago Board of Trade (CBOT) soybean oil futures and stronger palm olein contracts on China's Dalian Commodity Exchange.
The positive sentiment across the global vegetable oil market encouraged buying interest, pushing Malaysian palm oil futures higher across nearly all contract months.
According to Bernama, the benchmark July 2026 CPO contract rose RM46 to RM4,485 per tonne. The August contract climbed RM65 to RM4,523, while the September contract advanced RM70 to RM4,550 per tonne.
Further gains were seen in the October 2026 contract, which increased RM67 to RM4,572 per tonne. The November contract added RM61 to RM4,594, while the December contract closed RM57 higher at RM4,616 per tonne.
Trading activity, however, eased during the session, with total volume declining to 59,610 lots from 71,942 lots previously. Open interest also edged lower, slipping from 289,382 to 288,418 contracts.
Meanwhile, the physical CPO price for July delivery in South Malaysia gained RM50, closing at RM4,520 per tonne, reflecting continued strength in the regional palm oil market. (T2)
