InfoSAWIT, JAKARTA – Crude palm oil (CPO) offered through PT Kharisma Pemasaran Bersama Nusantara (KPBN) continued to record withdrawn (WD) tenders on Wednesday (July 8), despite stronger benchmark prices in the Malaysian futures market driven by rising rival edible oils and higher crude oil prices.
According to information obtained by InfoSAWIT from KPBN, the highest bid for CPO reached Rp15,589 per kilogram, up Rp101/kg from the previous day's highest offer of Rp15,488/kg.
Several CPO tenders, however, failed to secure transactions. The Franco Dumai contract opened at Rp15,650/kg before being withdrawn, with the highest bid recorded at Rp15,589/kg. Similar withdrawals occurred for Franco Teluk Bayur, Loco PKS Parindu & Ngabang, and Loco PKS Kembayan, while the Loco Luwu tender received no bidders.
Internationally, palm oil prices extended gains on the Bursa Malaysia Derivatives Exchange. According to Reuters, the benchmark September 2026 CPO contract rose RM61 per tonne, or 1.34%, to close at RM4,608 per tonne, marking its highest settlement since June 24.
The rally was supported by stronger competing vegetable oils, with the most-active soyoil contract on China's Dalian Commodity Exchange rising 0.61%, while Dalian palm oil futures gained 0.38%. Soyoil futures on the Chicago Board of Trade (CBOT) climbed 2.19%, providing additional support to global palm oil prices.
Market participants were also adjusting positions ahead of the release of the Malaysian Palm Oil Board (MPOB) monthly supply and demand report, which is expected to provide fresh direction for the market.
Wednesday's KPBN tender results also showed CPKO transactions at Rp30,350/kg for Franco Dumai, Rp29,600/kg FOB Palembang, and Rp29,552/kg FOB Lampung.
Meanwhile, palm kernel (PK) prices varied across locations, with successful bids recorded at Rp13,727/kg in Pagar Merbau, Rp13,599/kg in Kuala Sawit, and Rp13,683/kg in Sawit Seberang. The tender at Tanjung Lebar was withdrawn after the highest offer reached Rp12,100/kg.
Although domestic tenders remained largely inactive, the continued recovery in international futures suggests that market participants are awaiting clearer signals from upcoming MPOB data before committing to larger physical transactions. (T2)
