Palm Oil Price Rises
Wednesday, 10 January, 2007 | 17:19 WIB

TEMPO Interactive, Jakarta: The palm oil price at the opening of the first local tender of this year was recorded at Rp5,302 per kilogram.

This was in spite of the fact that the standard price set by the Joint Marketing Office of PT Perkebunan Nusantara was Rp4,500 per kilogram.

According to Bagas Angkasa, Managing Director of the Joint Marketing Office, palm oil prices this year will improve in line with the increase of local needs for cooking oil, soap, oleo chemicals and Pertamina's request for bioenergy.

“(The tendered) price is far higher than the one that we set. It is estimated that local palm oil prices this year can be maintained at between Rp4,500 and Rp5,500 per kilogram despite the decreasing world' palm oil prices,” said Bagas yesterday (01/09) in Jakarta.

INDRA MANENDRA ROSSI