Mar 28, 2011

Astra Agro 2M CPO sales rises 11.7%

CPO sales volume of palm oil producer PT Astra Agro Lestari Tbk (AALI) as of February 2011 reached 175,390 tons, a 11.7% increase compared to the same period last year, totalling 157,014 tons.
In an investor bulletin submitted to Indonesia Stock Exchange (IDX), of the total volume of CPO sales during this period, 93% were absorbed by domestic market while the remaining was exported.
The average CPO selling price as of February rose by 33.2%, from Rp6,456/kg in the same period last year to Rp8,600/kg, Meanwhile, the total sales volume of kernel reached 20,922 tons with the average selling price of Rp6,395/kg, an increase of 118.5% compared to Rp2,927/kg in the same period last year.
Palm oil production as of February 2011 reached 174,596 tons, a 23.7% increase compared to the same period last year.
The increase was mainly propelled by the rise in nucleus and plasma's fresh fruit bunch (FFB) production.
During this period, FFB production rose 18.4% to 641,053 tons from 541,366 tons. Astra Agro is controlled by PT Astra International Tbk (ASII) as parent company of several various businesses.

Disclosure: No position at the stock mentioned above.

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