CPO price in Jambi slides by Rp131 per kilogram

CPO price in Jambi slides by Rp131 per kilogram

Jambi (ANTARA) - The price of crude palm oil (CPO), palm kernel, and palm oil fresh fruit bunches (FFB) in Jambi Province in the initial week of May 2019, reduced by Rp131 per kilogram than the earlier period, from Rp6,546 to Rp6,415 per kilogram.

"The results set by the drafting team for the price of palm kernel during this period also indicate a significant drop of Rp202, from Rp3,510 to Rp3,408 per kilogram, while the price of palm oil FFB also tanked Rp33 per kilogram, from Rp1,096 to Rp1,073 per kilogram," Officer of the Pricing of Palm Oil TBS in Jambi Province Putri Rainun remarked in Jambi on Saturday.

Fluctuations in the pricing of palm CPO and FFB had earlier occurred in the past several periods in line with a decision resulting from an agreement reached between the CPO price formulation team in Jambi and the farmers, palm oil plantation companies, and related parties.

Under this agreement, the price of FFB for a three-year planting age was set at Rp1,073 per kilogram; four-year planting age, Rp1,137 per kilogram; five-year planting period, Rp1,190 per kilogram; six-year planting period, Rp1,240 per kilogram; and seven-year planting age, Rp1,271 per kilogram.

A consensus was also reached for setting the eight-year planting age at Rp1,298 per kilogram; nine-year planting, Rp1,324 per kilogram; 10- to 20-year planting age at Rp1,363 per kilogram; 21-24-year planting age, Rp1,320 per kilogram; and Rp1,267 per kilogram for planting age above 25 years.

The pricing of CPO, FFB, and palm kernel was set under an agreement reached by the formulation team at a meeting in which the attendees comprised entrepreneurs, cooperatives, and local palm oil farmer groups and was in line with the agriculture minister and governor's regulations.