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Sunday, 17 Nov 2019

Palm Oil FFB Prices in Riau This Week Rise Again, These are Causes and Prices

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(ilustration/net)(ilustration/net)

News24xx.com -

The Department of Food, Horticulture and Plantation of the Riau Province noted that the price of oil palm Fresh Bunches (FFB) for the period 16-22 October 2019 increased.

Head of Promotion and Quality Assurance Division, Tengku Neni Mega Ayu said that the increase occurred in each age group of oil palm, with the largest number of increases in the 10-20 years age group.

"The price increase from IDR. 26.27 / kg or reached 1.85% from last week's price. So the price of FFB this week to IDR. 1,448.02 / Kg," Tengku Neni told Riau24.com, Tuesday, September 15, 2019.

He explained, the increase in FFB prices was caused by internal factors and external factors. In terms of internal factors, the increase in the price of FFB this period was due to an increase in the selling price of CPO and Kernels from all companies that were sources of data.

Tengku Neni detailed, for the CPO selling price, PTPN V increased by IDR 56.43 / Kg, Sinar Mas Group experienced a price increase of IDR 69.51 / Kg, Astra Agro Lestari Group experienced a price increase of IDR 72.73 / Kg, and Asian Agri Group experienced an increase of IDR 56.64 / Kg from last week's price.

As for the selling price of kernels, Astra Agro Lestari Group increased by IDR 27.27 / Kg, and Asian Agri Group increased by IDR 5.00 / Kg from last week's price.

While the external factor that influenced the increase in FFB prices this period was the rise in world crude oil. "The price of CPO usually follows the price of crude oil, because the strong price of crude oil makes the price of palm oil more attractive to be mixed in biodiesel," he said again.

"In addition, the weakening of the value of the ringgit and an indication of the decline in production in Malaysia also contributed to positive sentiment that raised prices up," he continued.

The following is the price of oil palm FFB in Riau Province, period 16-22 October 2019:
3 years old (IDR 1,067,35);
4th age (IDR. 1,156.47);
Age 5th (IDR. 1,264.26);
Age 6th (IDRp. 1,294.65);
7 years old (IDR. 1,345.05);
Age 8th (IDR. 1,382.18);
Age 9th (IDRp. 1,414.79);
Age 10th-20th (IDR. 1,448.02);
Age 21 years (IDR. 1,386.30);
Age 22 years (IDR. 1,379.31);
Age 23 years (IDR. 1,373.49);
Age 24 years (IDRp1.315.26);
Age 25 years (IDR. 1,283.24);
Index K: 86.16%
CPO price of IDR. 6,757,75
Kernel Price IDR. 3,589.82
UP IDR 26.27 per Kg for ages 10-20 years old.

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