JAKARTA - PT Nusantara Sawit Sejahtera Tbk (NSSS) projects that the growth of palm oil prices will not be much different from this year, ranging from 4,000 - 5,000 Malaysian ringgit per tonne.

Nusantara Sawit Sejahtera Director Kurniadi Patriawan said the current CPO price, as shown by the company's average selling price (ASP), is IDR 12,000 per kilogram.

‘Because there are several considerations such as the B40 biodiesel programme. That will strengthen the demand for CPO,’ said Kurniadi, during the NSSS public expose session, Monday (16/12/2024).

The company, he continued, strongly supports the government's programme to increase the diesel mix ratio with biofuel to B40 (40 percent vegetable). According to him, this programme will increase the use of the company's resources, reduce fossil fuel, and support go green efforts.

Kurniadi continued, besides bio diesel, future demand for CPO will also be influenced by weather effects. Currently, he said, weather conditions are filled with uncertainty.  ‘The same thing is happening in other vegetable oil producing countries.’

He predicted that the average price in 2025 will remain strong and will not be different from this year.

‘But if it reaches 5,000 ringgit, it is a bit difficult. But maybe the range of 4,000 ringgit to 5,000 ringgit will be achieved,’ he said.

With this price projection, NSSS will plan to maintain its performance. According to him, NSSS will do various things so that the company's performance growth does not decline compared to this year.

As for these steps, there are several things.

First, development in terms of management. Second, continue to make savings and always test fertilisers and Palm Oil leaves.

On that occasion, he explained, the company recorded a profit in the third quarter of 2024 of IDR 955 billion, up 7 per cent compared to the same period the previous year to IDR 892 billion. (DK/MT/LM)