Jan 10, 2011

BW Plantation 10 FFB output up 8.6%

Palm oil producer PT BW Plantation Tbk (BWPT), controlled by Widodo family, produced 397,528 tons fresh fruit bunch (FFB) in 2010, a 8.6% increase from 367,746 tons FFB last year.
The FFB production last year was also 4.33% higher than BW Plantation's target of 381,000 tons FFB in 2010.
In a press statement submitted to Indonesia Stock Exchange (IDX) today, the FFB output of nucleus was 383,360 tons and 14,168 tons came from plasma. In 2009, nucleus plantation produced 353,139 tons and the remaining came from plasma.
BW Plantation Corporate Secretary Kelik Irwantono said the production increase was because the additional matured plantation area from 13,634 hectares to 15,270 hectares.
However, BW Plantation's CPO production slightly decreased 0.1% to 91,255 tons last year from 91,382 tons in 2009 as the company hasn't made any purchase of FFB from third parties. In 2009, BWPT bought 33,000 tons of FFB.
FFB yield fell 3.7% to 26.4 tons per hectare last year from 27.4 tons per hectare in 2009, while CPO yield also dropped 10.8% to 6 tons per hectare from 6.7 tons per hectare.
In a company report published by CIMB Securities on October 6, BW Plantation had 46,048 hectares of planted area with 95,182 hectares of land bank.

Disclosure: No position at the stock mentioned above.

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