CPO Prices from North Sumatra Have Surpassed an Average of IDR13,140 per Kilogram

Friday, 08-October-2021 18:00

Oil palm fruit bunches are the main ingredients for crude palm oil (CPO).
Image : ANTARA/Evalisa Siregar
Oil palm fruit bunches are the main ingredients for crude palm oil (CPO).

MEDAN, NETRALNEWS.COM - The average selling price of crude palm oil from the Ports of Belawan and Dumai is getting stronger in early October 2021, and has already reached IDR13,140 per kilogram.

Darma Sucipto, Executive Secretary of the Association of Indonesian Palm Oil Companies (Gapki) of North Sumatra, said in Medan, Thursday (10/08/2021) that the CPO price in October was recorded at the highest at IDR13,518 per kg on October 5th.

"CPO prices continue to strengthen, or have reached an average IDR13,140 per kg, from the position in September which was still at IDR12,625 per kg," Darma said.

In August, the average price of CPO was still IDR12,515 per kg, and even touched IDR9,746 per kg in January.

Darma said that the increase in CPO selling price was still affected by the high demand in the international market.

High demand amid concerns that commodity production will decline has pushed CPO prices up.."There are predictions that prices will continue to rise. Moreover, demand will continue to strengthen towards the end of the year," he said.

Based on the data, the price of CPO in North Sumatra has been moving since August.

In January-July, the price of CPO was still in the range of IDR9,000 to IDR11,000 per kg, and in August it was an average of IDR12,515. CPO price rose again in September to IDR12,625 per kg,

"With demand that is trending higher, it is hoped that CPO prices will rise again," he said, as reported by Antara.

Reporter : turkhan
Editor : turkhan