JAKARTA, InfoSAWIT – Indonesia’s crude palm oil (CPO) market ended Friday’s KPBN Inacom tender without a transaction, as offers for several delivery points were withdrawn despite bids reaching as high as Rp15,888 per kilogram.

The highest offer was recorded for Franco Dumai CPO at Rp15,888 per kg, below the opening price of Rp16,100 per kg. The development marked a decline of Rp37 per kg, or around 0.23 percent, compared with the previous day’s CPO price of Rp15,925 per kg.

At FOB Talang Duku, CPO was offered at Rp15,850 per kg, with the highest bid reaching Rp15,638 per kg. Franco Teluk Bayur was opened at Rp15,900 per kg, while the highest offer stood at Rp15,603 per kg.

Other tender points also recorded withdrawals. Loco PKS Kembayan was offered at Rp15,600 per kg, with the highest bid at Rp15,438 per kg. At Loco PKS Parindu, the top bid reached Rp15,538 per kg against an opening price of Rp15,700 per kg, while Loco PKS Ngabang recorded the same top bid of Rp15,538 per kg from an opening level of Rp15,725 per kg.

The domestic tender came as palm oil futures on Bursa Malaysia Derivatives continued to strengthen, reaching their highest intraday level in around 20 months. Market sentiment has been supported by expectations of stronger demand for biofuel, Indonesia’s B50 biodiesel mandate, and concerns over potential production disruptions linked to El Niño.

According to the tender data, the market remained cautious on Friday, with buyers submitting offers below sellers’ opening levels and no transactions concluded at the listed KPBN delivery points. (T2)

Source: InfoSAWIT and The Edge Market