REPUBLIKA.CO.ID, PEKANBARU -- The price of the fresh fruit bunches (FFB) of farmers' oil palm were set significantly higher for the next week.

The FFB price of farmers' 10-year old oil palm is set at Rp1.959.55 per kilogram for the period of 30 April to May 6 or an increase of Rp33.31 per kg from the week earlier.

The increase, the second time in April, was encouraging, after earlier decline on weak demand for crude palm oil (CPO) in international market, chairman of the BBF price determination team Ferry HC said.

"It gave rise to hope amid the tight competition in international market," Ferry HC said here on Tuesday.

Months earlier the price of BBF continued to be on the decline until it hit the rock bottom.

A reversal began in the past two weeks when the price began to pick up.

"Hopefully, the trend would continue or the price would be stable above the level of Rp1,900 per kg," Ferry said.

Meanwhile, head of the provincial plantation office H. Zulher MS, said the price fall earlier was on weak demand in international market.

Palm oil price stability in international market depended on supplies from producing countries and condition in consuming countries, he said.

"The price of FFB at the level of farmers, therefore, changed from week to week. It was natural based on the concept of supply and demand," he added.

The prices were set at Rp1,402.52/kg for FFB of three-year old oil palm trees, Rp1,566.40/kg for FFB of four-year old palm trees, Rp1,676.25/kg for FFB of 5-year old plam trees, Rp1,725.36/kg for FFB of six year old trees , Rp1,791.27/kg for FFB of seven year old trees and Rp1,847.11/kg, for FFB of eight year old trees.

The price of crude palm oil was set at Rp8,788.22/kg and that of PKO was Rp5,865.71/kg.

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