The average CPO price stood at Rp14,848 per kilogram in January, increased to Rp15,494 per kilogram in February, and moved up further to Rp17,102 per kilogram as of March 16.Medan, N Sumatra (ANTARA) - The export price of North Sumatra's crude palm oil (CPO) averaged Rp17,102 per kilogram during the March 1–6, 2022 period, executive secretary of the Indonesian Palm Oil Producers Association (Gapki), North Sumatra, said.
"The average CPO price stood at Rp14,848 per kilogram in January, increased to Rp15,494 per kilogram in February, and moved up further to Rp17,102 per kilogram as of March 16," executive secretary Dharma Sucipto informed in Medan on Friday.
Despite the fluctuating trend, the average CPO export price remained strong as of March 16, with the highest price recorded at Rp18,250 per kilogram.
The highest prices in January and February stood at Rp15,402 per kilogram and Rp17,000 per kilogram, respectively.
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"The price is predicted to remain strong although it fluctuates due to many factors such as price, competition with soybean, natural oil, and the Russia-Ukraine war," Sucipto said.
The war has disrupted exports of refined palm oil and liquid fraction of refined palm oil, he added.
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However, the war has had no impact on North Sumatra's CPO exports since Russia is not the main market for the province's CPO.
With the CPO price strengthening, the price of fresh fruit bunches at the trader level has risen to Rp3,200-Rp3,550 per kilogram from Rp2,700–Rp3,100 per kilogram earlier.
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Translator: Evalisa Siregar, Suharto
Editor: Fardah Assegaf
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