The Price of South Sumatra CPO is Now IDR 9,476

The formulating team for the price of fresh fruit bunches (TBS) for palm oil in South Sumatra determined that the price of crude palm oil (CPO) had increased. The South Sumatra CPO price is now IDR 9,476/ kg. This figure has increased by IDR 387/ kg from the previous price (20/06/2023).

According to antaranews.com, PSP Analyst Associate Expert at the South Sumatra Province Plantation Office Rudi Arpian gave his opinion. He said the trend of CPO prices is now starting to increase. It is estimated that the price of TBS in the region will move up in the first period of July. This price will be set on July 11, 2023.

However, entering the second period in June, the price of TBS in South Sumatra still decreased to IDR 2,038/ kg. Whereas in the previous period the price was still at IDR 2,120/ kg.

“This is because the CPO reference price reported by members of the pricing team is still low,” he continued.

Rudi said South Sumatra still set team prices every two weeks. So the results of the tender submitted by team members are the average price of the previous week’s contract.

The price of TBS varies with the age at which it is planted. Likewise with this price for smallholders who have partnered with palm oil mills.

The TBS price in South Sumatra for the three year planting age set for this period is IDR 1,780/ kilogram. Second, the four-year planting age is IDR 1,825/ kg. Third, the five-year planting age is IDR 1,866/ kg, and so on.