CPO price in Jambi slides Rp161 per kilogram

CPO price in Jambi slides Rp161 per kilogram

Jambi (ANTARA) - Crude palm oil (CPO), palm kernel, and palm oil Fresh Fruit Bunches (FFB) pricing in Jambi tumbled during April 26-May 2, 2019, than the earlier period, with the CPO price plummeting Rp161/kilogram, from Rp6,707 to Rp6,546.

"The formulation team's results also indicated a drop of Rp147 in the price of palm kernel during this period, from Rp3,657 to Rp3,510 per kilogram, while the price of palm oil FFB increased by Rp29 per kilogram, from Rp1,125 to Rp1,096 per kilogram," Jambi Palm Oil TBS Pricing Officer Putri Rainun noted in Jambi on Saturday.

Pricing of palm oil CPO and FFB vacillated earlier in tune with a decision taken on the agreement reached by the CPO price formulation team in Jambi with farmers, palm oil plantation firms, and related parties.

The price of FFB for a planting age of three years decided during this period is Rp1,096 per kilogram, Rp1,161 per kilogram for a four-year planting age, Rp1,215 per kilogram for a five-year planting age, Rp1,267 per kilogram for a six-year planting age, and Rp1,299 per kilogram for a seven-year planting age.

FFB, with a planting age of eight years, is worth Rp1,326 per kilogram, while a planting age of nine years fetches Rp1,352 per kilogram, a planting age of 10-20 years draws Rp1,392 per kilogram, while it is priced at Rp1,349 per kilogram for a planting age of 21-24 years, and Rp1,284 per kilogram for over 25 years.

The pricing of CPO, FFB, and palm kernel was agreed upon by the formulation team at a meeting in which entrepreneurs, cooperatives, and local palm oil farmer groups participated and was in accordance with the agriculture minister's and governor's regulations.