"The price of palm kernel during this period decreased by Rp62, to reach Rp3,362 from Rp3,428 per kilogram, while the price of palm oil FFB also witnessed a slight drop of Rp5 per kilogram, to reach Rp1,031 from Rp1,036 per kilogram," Palm Oil TBS Pricing Officer in Jambi Province Putri Rainun remarked in Jambi on Saturday.
Palm oil CPO and FFB prices had vacillated earlier, but a decline occurred in the previous two periods based on the results of the decision arising from the agreement of the CPO price formulation team in Jambi with the farmers, palm oil plantation companies, and related parties.
As such, the price of FFB for three years of planting age is set at Rp1,036 per kilogram; four-year planting age, Rp1,098 per kilogram; five-year planting age, Rp1,145 per kilogram; six-year planting age, Rp1,198 per kilogram; and seven-year planting age at Rp1,228 per kilogram.
The price of FFB is set at Rp1,254 per kilogram for eight years after its planting, Rp1,279 per kilogram for nine years after planting, Rp1,317 per kilogram for planting age at 10-20 years, Rp1,276 per kilogram for planting age of 21-24 years, and Rp1,215 per kilogram for planting age over 25 years.
The pricing for CPO, FFB, and palm kernel was decided by the formulation team at a meeting attended by entrepreneurs, cooperatives, and local palm oil farmer groups and was in accordance with the regulations of the Minister of Agriculture and Governor's Regulation.