Apr 13, 2011

Astra Agro 1Q FFB output rises 20.6%

Palm oil producer PT Astra Agro Lestari Tbk (AALI) today reported a 20.6% increase in fresh fruit bunch (FFB) production in the first quarter of this year from the same period a year earlier as higher contribution from Sumatra and Kalimantan plantations area.
In an investor bulletion submitted to Indonesia Stock Exchange (IDX) today, Astra Agro, controlled by Indonesia's largest auto products maker PT Astra International Tbk (ASII), produced 1.02 million tons FFB in 1Q 2011 from 841,893 tons FFB in 1Q 2010.
The average of FFB Yield improved by 16.2% to 4.60 tons per hectare from 3.96 tons per hectare. The increase was mainly derived from the growth of production in Kalimantan and Sumatra Area of 34.3% and 18.3 respectively. FFB production of Kalimantan Area reached 397,646 tons or 39.1% of the total FFB production of AALI, while Sumatra and Sulawesi Area contributed 42.2% and 18.7% respectively.
As a results of the rise in FFB production, Astra Agro's CPO production rose 25.7% to 275,099 tons from 218,791 tons.
Kernel production increased 21.1% to 57,412 tons from 47,423 tons. Astra Agro shares today fell 1.32% to Rp22,500 per share.
Referring to Oil World, Indonesia's CPO production rose 4.3% to 21.9 million tons last year from 21 million tons in the previous year.
CPO export volume from Indonesia decreased 3.5% to 16.35 million tons from 16.94 million tons. Indonesia's CPO export volume is estimated to reach 17.90 million tons this year, a 9.5% increase from last year.

Disclosure: No position at the stock mentioned above.  

Print This Article

No comments: