Indonesian palm oil prices were mostly higher on Tuesday, as refiners increased stocks against a backdrop of thin supplies, traders said. At the state marketing centre's tender in Jakarta, which sells palm oil from state plantation, crude palm oil traded at 5,577 rupiah ($0.608) a kilogram, up from 5,555 rupiah on Friday.
Indonesia's markets were closed on Monday to observe a holiday for the Hindu day of silence. In North Sumatra's Medan, the main port for palm oil export, crude palm oil sold at 5,585 rupiah per kilogram, up from 5,560 rupiah on Thursday.
"Stocks in the market are limited as we are in the middle of a seasonal decline in production, on the other hand demand from local refiners remains high," a Medan trader said. Cooking oil in Jakarta traded flat at 6,000 rupiah per kilogram.
On the export front, April to June shipments were offered at $562.5 a tonne, free on board Begawan and buyers bid at $557.5 a tonne. A deal was reported at $560 a tonne in the session.