Medan, N Sumatra (ANTARA News) - The price of crude palm oil (CPO) is predicted to continue its upward trend in response to increasing demand in the world market due to declining stocks, a CPO businessman said.<\/p>\n
\"Although the price is going up it is believed that it would not reach last year`s level when it was recorded at US$1,000 per ton,\" Treasurer of the Indonesian Crude Palm Oil Producers Association (Gapki), Laksamana Adiyaksa, said here on Wednesday.<\/p>\n
He said that it was predicted that the price would reach US$600 per ton at the latest while the price of CPO last year was US$1,000 per ton.<\/p>\n
\"The increase in the price of CPO this month is because stocks in Europe are declining after high consumption during the winter season at the end of 2008,\" Adiyaksa said.<\/p>\n
Timbas Prasad Ginting, a palm oil businessman, said that the price of fresh fruit bunches (TBS) this week had reached Rp1,092 per kg from the earlier price of Rp1,048 per kg.<\/p>\n
In the meantime, the price of CPO has also increased to Rp6,323 per kg.<\/p>\n
The prices of TBS and CPO this week sharply increased if compared with those in the January 7 - 13, 2009 period which were recorded at Rp963.52 per kg and Rp5,031.42 per kg respectively.(*)<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/cpo-price-up-on-incresing-demand-1233192406", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }