RIAU PALM OIL: Fresh Fruit Bunches Price Slightly Increase
Jumat, 15 Agustus 2014 | 09:43
Price of palm oil fresh fruit bunches (FFB/TBA) in Riau slightly increase after being dropped due to the decrease of crude palm oil price at the Malaysian commodity exchange.Head of Riau Plantation Agency Zulher said that the TBS price in Riau for the period of 13 August-19 August is rebound after being sharply dropped on the previous period. TBS of 10 years palm oil increase to IDR1, 771.41 per kilogram from IDR1, 768.79 per kilogram previously.
According to him, the increase on TBS price is following the CPO price which strengthen due to the increase of demand at the global market. The world economy improvement also considered as one of factors lead to the increase in CPO demand.
A slight increase on TBS price is reasonable because the movement of CPO price. This also indicates that the global market demand continues to increase in line with the improvement in global economy,” he said Tuesday (8/12/2014).
Data from TBS Purchasing Price determination Team in Riau also show that the price of 3 years old palm oil is increase to IDR1, 267.71 per kilogram from IDR1, 265.91 per kilogram. Then the price of 5 years old palm oil increase to IDR1, 515.51, the ten years old increase to IDR1, 771.41, and 25 years old increase to IDR1, 550.70 per kilogram.
by Lili Sunardi