17/03/2012 (Bloomberg) - Indonesia, the world’s biggest producer of palm oil, withdrew 26,500 metric tons of vegetable oils from auctions today, citing low bids.

PT Kharisma Pemasaran Bersama Nusantara, which sells palm oil from state-owned plantations, failed to sell 17,500 tons. It received highest bid for Belawan port-delivery at 9,250 rupiah a kilogram ($1,013 a ton) below target of 9,314 rupiah.

PT Astra Agro Lestari, the country’s biggest listed plantation company by market value, failed to sell 9,000 tons of palm oil it offered at a separate auction today.