Apr 23, 2011

Astra Agro immature area narrows

Immature area of palm oil producer PT Astra Agro Lestari Tbk (AALI) decreased to 43,026 hectares or 16.32% of the total planted area at end of March this year (1Q 2011) from 56,903 hectares or 21.49% of the total planted area a year earlier.
Mature area of Astra Agro increased to 220,582 hectares or 83.67% of the total planted area from 207,889 hectares or 78,51%.
Astra Agro's total planted area reached 263,608 hectares in 1Q 2011 from 264,792 hectares in 1Q 2010, said a presentation material filed to Indonesia Stock Exchange. New planting reached 328 hectares, reducing from 756 hectares.
The company recorded a 27.3% increase in CPO sales volume in 1Q 2011 as fresh fruit bunch (FFB) rose.
The CPO sales volume reached 284,249 tons in 1Q 2011 from 223,308 tons in a year earlier.
Of the total CPO sales volume in 1Q 2011, 95.7% or 272,161 tons were sold to the local market and 4.3% or 12,088 tons to the export market.
The CPO average selling price of the company was Rp8,278/kg, a rise of 26.5% from Rp6,544/kg. The sales volume of the other products, such as kernel and PKO in 1Q 2011 went up by 12.7% and 50% respectively. FFB output increased 20.6% to 1.02 million tons from 841,893 tons.

Disclosure: No position at the stock mentioned above.

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