Global CPO Market on the Rise, South Sumatra FFB Hikes to Rp2,362
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12 September 2023 22:23 WIB
TEMPO.CO, Jakarta - The global crude palm oil (CPO) market is waking up, affecting directly the fresh fruit bunch (FFB) price from the first period of September 2023.
According to Rudi Arpian, Analyst of the Facilities and Infrastructure at the Plantation Office of South Sumatra, the office along with several regional stakeholders priced FFB for 10-20 planting years at Rp2,362.19.
"Meaning, there is an increase compared to FFB from the second period of August 2023," he said on Tuesday.
Meanwhile, hot weather experienced by half of the world has proven beneficial for local and national palm oil farmers. The increase in global CPO prices could be attributed to the extreme weather experienced by many CPO producer countries. According to Rudi, the extreme weather caused CPO production to lower in number, including sunflower oil and soybean.
Additionally, the increase in demand directly affects plasma farmers and self-subsistent farmers. "In relation to the hot weather, palm oil companies and palm oil farmers are urged to remain vigilant to the threat of wildfires," Rudi added.
The FFB prices in South Sumatra will be implemented for purchases from September 1 until 15, 2023. The detail is as follows:
- 3 years from plantation priced at Rp2,065.15 per kilogram;
- 4 years from plantation priced at Rp2,116.94;
- 5 years from plantation priced at Rp2,164.50;
- 6 years from plantation priced at Rp2,206.87;
- 7 years from plantation priced at Rp2,244.93;
- 8 years from plantation priced at Rp2,279.67;
- 9 years from plantation priced at Rp2,309.11;
- 10-20 years from plantation priced at Rp2,362.19;
- 21 years from plantation priced at Rp2,331.94;
- 22 years from plantation priced at Rp2,305.82;
- 23 years from plantation priced at Rp2,274.84;
- 24 years from plantation priced at Rp2,239.47;
- and 25 years from plantation priced at Rp2,163.02.
PARLIZA HENDRAWAN
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