Astra Agro CPO exports soars 127%
Astra Agro CPO exports soars 127%
The Jakarta Post, Jakarta
Publicly listed plantation company PT Astra Agro Lestari
reported on Thursday its crude palm oil (CPO) export had surged
by 127 percent on-year in the first semester, primarily due to
higher demand from India.
In its report to the Jakarta Stock Exchange, Astra Agro said
CPO export jumped to 172,810 tons in the January-June period,
from 76,205 tons in the same period last year.
During the period, CPO export to India rose 282 percent from
18,975 tons to 72,548 tons. India, the world's second most
populous country, accounted for 42 percent of Astra Agro's total
CPO export in the first semester.
Export to Malaysia also jumped, by 115 percent to 41,998 tons,
to Vietnam by 61 percent to 24,498 tons and to the Netherlands by
30 percent to 21,290 tons. Malaysia, Vietnam and the Netherlands
accounted respectively for 24.3 percent, 14.2 percent and 12.3
percent of Astra Agro's first semester export.
The company, a subsidiary of
automotive giant PT Astra International, controls around 205,000
hectares of plantations in Sumatra, Kalimantan and Sulawesi, and
more than 92 percent of its sales revenue is derived from palm-
based products.
CPO output from Astra Agro accounts for around 8 percent of
the country's total 2004 production, which is predicted to reach
10.4 million tons, higher than last year's 9.9 million tons.
Indonesia is the second largest CPO producer after Malaysia,
recording a 2003 output of 9.9 million tons.
The Indonesian Palm Oil Producers Association (GAPKI) said the
increase in production this year resulted from the 1999-2000
expansion of CPO plantations.
The 500,000 extra tons produced this year would allow
Indonesia to boost exports of the commodity, as annual domestic
consumption is predicted to remain steady at 3.5 million tons.
With the additional output, Indonesia can increase exports to
countries like China, India, Pakistan, Bangladesh, the
Netherlands and new markets such as eastern Europe.
Shares of Astra Agro on the local bourse ended higher on
Friday at Rp 2,225, a Rp 25 rise.