Pekanbaru, Riau, (Antarariau.com) - The price of fresh fruit bunches (FFB) of oil palm of 10-20 years in age is raised Rp23.29 to Rp1,395.98 per kilogram effective as from December 30 to January 5, 2016.
Secretary of the Team Determining the FFB price for Riau Rusdi attributed the increase in the FFB price that followed the rise in the price of crude palm oil (CPO) to the falling value of rupiah against the U.S. dollar.
Rusdi said the dollar rose in value over the majority of global currencies including rupiah and Malaysian Ringgit after the U.S. central bank finally raised its fund rate in mid December.
"The contract price of CPO in Malaysia rose 48 ringgit to 2,421 ringgit per ton for delivery in March 2016," he said on Wednesday.
He predicted the price of CPO would rise higher to follow the dollar strengthening.
He said the price of FFB of 3-year old oil palm trees was Rp999.29 per kilogram , Rp1,115.82 per kg for FFB of 4-year old tree and Rp1,358.15 per kg of FFB from 9-year old trees.
The highest price is Rp1,362.08 per kkg of FFB from 21 year-old tree . The price of CPO is Rp6,153.48/kg and that of palm kernel is set at Rp4,420.28/kg.
Palm oil is a major export earner for Indonesia, the worlds largest producer of CPO
Secretary of the Team Determining the FFB price for Riau Rusdi attributed the increase in the FFB price that followed the rise in the price of crude palm oil (CPO) to the falling value of rupiah against the U.S. dollar.
Rusdi said the dollar rose in value over the majority of global currencies including rupiah and Malaysian Ringgit after the U.S. central bank finally raised its fund rate in mid December.
"The contract price of CPO in Malaysia rose 48 ringgit to 2,421 ringgit per ton for delivery in March 2016," he said on Wednesday.
He predicted the price of CPO would rise higher to follow the dollar strengthening.
He said the price of FFB of 3-year old oil palm trees was Rp999.29 per kilogram , Rp1,115.82 per kg for FFB of 4-year old tree and Rp1,358.15 per kg of FFB from 9-year old trees.
The highest price is Rp1,362.08 per kkg of FFB from 21 year-old tree . The price of CPO is Rp6,153.48/kg and that of palm kernel is set at Rp4,420.28/kg.
Palm oil is a major export earner for Indonesia, the worlds largest producer of CPO
