Palm Oil Price in Riau Lifted by B20 Program

THE expanded B20 mandatory program has lifted price of Fresh Fruit Bunches (FFB) for Crude Palm Oil (CPO) in Riau, the biggest palm oil producers province in Indonesia. FFB price for current period for age group of 10-20 years is at Rp1,225.52/Kg. “FFB price for CPO in Riau for period 5-11 December 2018 increased at every age group of oil palm with the biggest increase at 10-20 years in age group that increased Rp63.08/Kg or 5.44 percent from Rp1,159.44/Kg last week,” Head of Plantation Office at Riau Province, Ferry HC Erna Putra, (5/12/2018). Increase in FFB price was lifted by increase in CPO and kernel price. CPO price from PTPN V has increased Rp303.69/Kg, from PT Sinar Mas Group Rp220/Kg, from PT Astra Agro Lestari Group Rp365.45/Kg and from PT Asian Agri Group has increased Rp291.28/Kg. FFB for CPO price from PT Musim Mas has increased Rp200/Kg from last week price. Meanwhile, kernel price from PT Astra Agro Lestari Group has increased Rp227.27/Kg, and from Asian Agri Group has decreased Rp215/kg from last week price. Ferry also said that FFB for CPO price for age group of 3 years recorded at Rp909,78/kg, for age 4 years Rp982,32/kg, for age 5 years Rp1.070,20/kg, for 6 years Rp1.095,40/kg, for 7 years Rp1,137.93/kg, for 8 years Rp1,168.89/kg, and for 9 years Rp1,195.36/kg. A part from that, FFB for CPO price for age 10-20 years was recorded at Rp1,222.52/kg, for age 21 years Rp1,172.40/kg, for 22 years Rp1,166.73/kg, for 23 years Rp1,162/kg, for 24 years Rp1,114.73/kg, for 25 years Rp1,088.73/kg. Index K was recorded at 83.83 percent, CPO price Rp5,639.27/kg, kernel price Rp4,058.80/kg. (Source: Antara Riau)