Astra Agro CPO exports soars 127%<\/p>\n
The Jakarta Post, Jakarta<\/p>\n
Publicly listed plantation company PT Astra Agro Lestari
\nreported on Thursday its crude palm oil (CPO) export had surged
\nby 127 percent on-year in the first semester, primarily due to
\nhigher demand from India.<\/p>\n
In its report to the Jakarta Stock Exchange, Astra Agro said
\nCPO export jumped to 172,810 tons in the January-June period,
\nfrom 76,205 tons in the same period last year.<\/p>\n
During the period, CPO export to India rose 282 percent from
\n18,975 tons to 72,548 tons. India, the world's second most
\npopulous country, accounted for 42 percent of Astra Agro's total
\nCPO export in the first semester.<\/p>\n
Export to Malaysia also jumped, by 115 percent to 41,998 tons,
\nto Vietnam by 61 percent to 24,498 tons and to the Netherlands by
\n30 percent to 21,290 tons. Malaysia, Vietnam and the Netherlands
\naccounted respectively for 24.3 percent, 14.2 percent and 12.3
\npercent of Astra Agro's first semester export.<\/p>\n
The company, a subsidiary of
\nautomotive giant PT Astra International, controls around 205,000
\nhectares of plantations in Sumatra, Kalimantan and Sulawesi, and
\nmore than 92 percent of its sales revenue is derived from palm-
\nbased products.<\/p>\n
CPO output from Astra Agro accounts for around 8 percent of
\nthe country's total 2004 production, which is predicted to reach
\n10.4 million tons, higher than last year's 9.9 million tons.<\/p>\n
Indonesia is the second largest CPO producer after Malaysia,
\nrecording a 2003 output of 9.9 million tons.<\/p>\n
The Indonesian Palm Oil Producers Association (GAPKI) said the
\nincrease in production this year resulted from the 1999-2000
\nexpansion of CPO plantations.<\/p>\n
The 500,000 extra tons produced this year would allow
\nIndonesia to boost exports of the commodity, as annual domestic
\nconsumption is predicted to remain steady at 3.5 million tons.<\/p>\n
With the additional output, Indonesia can increase exports to
\ncountries like China, India, Pakistan, Bangladesh, the
\nNetherlands and new markets such as eastern Europe.<\/p>\n
Shares of Astra Agro on the local bourse ended higher on
\nFriday at Rp 2,225, a Rp 25 rise.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/astra-agro-cpo-exports-soars-127-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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