Pekanbaru, Riau, (Antarariau.com) - Increase was set higher in the price of fresh fruit bunches (FFB) of oil palm in Riau for the period of February 14-20, 2018.
The selling price was Rp1,897 per kg for FFB of oil palm 10-20 years in age. The price rose from Rp1,885.3 per kg in the previous week.
The price was set higher to follow the rise in the selling price of crude palm oil (CPO), head of the Food Crop, Horticulture and Plantation Office of the province Ferry HC Ernaputra said.
Ferry said the selling price of CPO from state-owned plantation company PTPN V rose Rp101.83/Kg, from PT Sinar Mas Group up Rp26.21/Kg, from PT Astra Agro Lestari Group up Rp4.55/Kg; and from PT Asian Agri Group up Rp99.61/Kg.
The selling price of palm kernel from PT Sinar Mas Group fell Rp124.06/Kg, from PT Astra Agro Lestari Group down Rp6/Kg, from PT Asian Agri Group down Rp93.02/kg, and from PT. Citra Riau Sarana down Rp69 /Kg compared with the prices in the previous week.
In international market, however, the price of CPO tended to decline putting pressure of the Indonesian CPO market.
"One factor putting pressure on the CPO market is an increase in supply and production, while demand remains unchanged," Ferry said.
Palm oil is one of the largest export earners for the country. Indonesia is the world largest producer and exporter of the commodity and Riau is one of the largest producing provinces. ***3***
Fresh Fruit Bunches of Oil Palm in Riau Prices Up
