InfoSAWIT, JAKARTA – Crude palm oil (CPO) prices at PT Kharisma Pemasaran Bersama Nusantara (KPBN) were withdrawn on Thursday, October 1, 2026, with the highest bid recorded at IDR 14,600 per kg, down IDR 321 per kg, or 2.15%, from the previous day's highest bid of IDR 14,921 per kg.

Based on information obtained by InfoSAWIT from KPBN, CPO at Franco Belawan opened at IDR 14,840 per kg before the tender was withdrawn, with the highest bid settling at IDR 14,600 per kg.

At FOB Talang Duku, CPO opened at IDR 14,590 per kg, while the highest bid reached IDR 14,345 per kg following the withdrawal. Meanwhile, Franco Teluk Bayur opened at IDR 14,640 per kg, with the highest bid recorded at IDR 14,331 per kg.

The weakness in Indonesia's CPO market came alongside a decline in Malaysian palm oil futures. The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange fell RM57 per metric ton, or 1.24%, to RM4,553 per ton, marking its lowest closing level in 11 weeks.

The decline was driven by weaker soybean oil prices in Chicago, concerns over lower Malaysian palm oil exports in September and expectations of higher production.

Malaysian palm oil product exports in September were estimated to have fallen between 17.1% and 28.8% from August, according to cargo surveyors Intertek Testing Services and AmSpec Agri Malaysia.

Soybean oil prices on the Chicago Board of Trade also weakened by 0.59%, adding pressure to palm oil futures. Meanwhile, China's commodity markets were closed from October 1 to 7 for a national holiday.

Palm oil prices often track movements in competing vegetable oils because palm oil competes with soybean oil and other edible oils for a share of the global vegetable oil market.

Indonesia's Palm Oil Exports

Indonesia's palm oil trade also showed a slight decline during the first eight months of 2026. Statistics Indonesia (BPS) data showed exports of crude and processed palm oil reached 16.13 million metric tons during January–August, down 0.39% from the same period a year earlier.

Meanwhile, the Indonesian government set the CPO reference price for October 2026 at US$1,042.15 per metric ton, according to a regulation issued by the Ministry of Trade.

The combination of weaker Malaysian futures, softer export expectations and movements in competing vegetable oils remains an important factor for the regional palm oil market. (T2)