MARKET MOVING: Palm Oil Manufactures Profits Fall 30%
Rabu, 01 Agustus 2012 | 13:58
Most palm oil-related companies booked an average 30.3% decline in net profit in the first half of 2012 due to the stumbling palm oil sales price.As stated in their first half financial report, PT Astra Agro Lestari Tbk (AALI), PT BW Plan tation Tbk (BWPT), PT Gozco Plan tations Tbk (GZCO), PT Sampoerna Agro Tbk (SGRO), PT Sinar Mas Agro Resources and Technology Tbk (SMAR), and PT Tunas Baru Lampung Tbk (TBLA) experienced such condition.
Crude palm oil price at Malaysia Derivative Index once touched RM3,567 per ton in Q II but then slumped to the lowest level at RM2,869 per ton on June 15.
When compare to QI, CPO average price was at RM3,218 per ton. The drop in CPO price is then led to the less impressive performance of the of the companies in the first 6 months of this year which led to decline in net profit. (T05/aph)
by Achmad Aris, Reviana Rahmania Surya