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Crude palm oil (CPO) prices in the world market are showing a strong upward trend, reaching US$710 dollars per metric ton for November shipment, a CPO trader said.

"The upward trend in the CPO price is triggered by crude oil price increases and tight stocks," North Sumatran CPO trader Laksamana Adiyaksa said here on Tuesday.

He said that the increasing CPO price began to be observed on October 22, 2009 when the market at Rotterdam Bourse closed at US$700 per metric ton.

Adiykasa said the tight stocks happened not only in Indonesia but also in Malaysia.
As a result of the tight stocks, consumer countries were concerned and ordered large volumes, boosting prices.

The price increases were further galvanized by the increase in the world crude prices, Adyaksa who is also executive director of PT Asian Agri said.

He said that the upward trend in the CPO price would continue until the end of the year because many would order large volumes as stocks for 2010, Adiyaksa who is also treasure of the Indonesian Oil Palm Business Association (Gapki) said.

He said that the increase in the price of CPO in the world market had also jacked up local CPO price where the price of oil palm fruit in fresh bunches (TBS) had reached Rp1,100 kg from Rp800 a kilogram three days earlier.

However, the increase in the CPO prices could not be enjoyed by farmers because the harvest yield was declining. The high rain falls have caused the ripeness of palm fruit less perfect as they did not received perfect sun rays.

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3 Responses so far.

  1. dallco says:

    wah blog ekonomi nih.... ada pembahasan PSAK ga?

  2. g tw bs sip blognya

  3. akhatam says:

    nice.. keep posting...

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