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Oil Palm Fruit Prices Rise, Bringing Relief to Farmers
Oil palm farmers received better news in August.
The price paid for their fresh fruit bunches rose to Rs 24,010 per tonne.
It had been Rs 20,680 per tonne in January.
The price climbed until May, but then fell in June and July.
The total fall during those two months was Rs 377 per tonne.
Farmers were unhappy about that decline.
The August increase of Rs 527 per tonne helped make up for some of their losses.
About 45,000 farmers in the erstwhile West Godavari district grow oil palm.
The amount paid is decided each month using international prices and oil sales.
The price of oil palm fresh fruit bunches rose to Rs 24,010 per tonne in August.
The price increased from Rs 20,680 per tonne in January to Rs 23,860 in May.
Prices fell by a combined Rs 377 per tonne in June and July.
The August price increased by Rs 527 per tonne, helping offset recent losses.
About 45,000 farmers cultivate oil palm across nearly 1.60 lakh acres in the erstwhile West Godavari district.
- Who
- Around 45,000 oil palm farmers in the erstwhile West Godavari district.
- What
- The price of oil palm fresh fruit bunches rose to Rs 24,010 per tonne in August.
- Where
- Bhimavaram and the erstwhile West Godavari district.
- When
- The August price was announced during the first week of the month; the exact year is not stated.
- Why
- The price is determined using international price indices and oil sales, and the latest rise helped offset losses from declines in June and July.
Key facts
- August price
- Rs 24,010 per tonne
- January price
- Rs 20,680 per tonne
- May price
- Rs 23,860 per tonne
- June-July decline
- Rs 377 per tonne cumulatively
- August increase
- Rs 527 per tonne
- Farmers involved
- Around 45,000
- Cultivation area
- Nearly 1.60 lakh acres, including about 95,000 currently yielding acres
- Recent expansion
- Oil palm cultivation increased by around 65,000 acres over three years
Sources
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