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Palm Oil Explosion (9)
Stronger output in Indonesia and Malaysia prevented further rally of crude palm oil (CPO). Other than Astra Agro Lestari, which reported almost 20% growth in first four months of 2013, First Resources posted almost 20% growth last month. Coupled with falling crude oil prices, CPO retreated to below RM2300/ton Wednesday (May 15). ,Last Updated ( Thu, 16 May 2013)
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| Palm Oil Explosion (8)
Crude palm oil (CPO) retreated again to RM2301 per ton Tuesday (May 14) amidst higher production of plantation companies in Indonesia and Malaysia last month. Astra Agro Lestari, the largest CPO producer listed on Indonesia Stock Exchange, for example, reported 19.9% growth in the first four months of 2013. (Tue, 14 May 2013)
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| First Resources vs Kencana Agri
First Resources Ltd and Kencana Agri Ltd are plantation companies listed on Singapore Exchange (SGX) controlled by Indonesian rich families. They provided contrasts in their first quarter 2013 results. First Resources reported almost 30% jump in net profit, while Kencana Agri collapsed 95%. (Tue, 14 May 2013)
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| More Articles |
| • Palm Oil Journal/Edition 19/2013 | Palm Oil | Crude palm oil (CPO) ended its rally in the futures market Monday (May 13). The benchmark July contracts ended lower by RM10 to RM2309/ton. In this report: (1) Golden Agri-Resources Q1/13 results, (2) Bumitama Agri Q1/13 results, and (3) Astra Agro's expansion plan. | |
| • Bumitama Agri's New Loan Facility | Palm Oil | While some banks have decided to reduce their lending to plantation companies, some banks arranged by the Hongkong and Shanghai Banking Corporation (HSBC) decided to provide more to Bumitama Agri Ltd, a company listed on Singapore Exchange (SGX) but controlled by Indonesian family of Lim Gunawan Hariyanto. | |
| • Palm Oil Journal/Edition 19/2013: Bottoming Out? | Palm Oil | Crude palm oil (CPO) continued its rally Wednesday (May 8) with over 1% gain. The benchmark July 2013 contracts ended higher by RM30 to RM2290 per ton, while August contracts advanced to RM2285 per ton. Players expect further rally on the commodity, but higher output is still a concern. | |
| • Wilmar International & Its Q1 | Palm Oil | Wilmar International Ltd shares opened higher by almost 4% on Singapore Exchange (SGX) this morning as investors responded positively the company's first quarter 2013 results. Wilmar reported 23.3% growth in net profit to US$315.35 million even though sales revenue down 2.6%. The company's EBITDA, however, inched up only 1.9% in the period. | |
| • Palm Oil Journal/Edition 19/2013 | Palm Oil | In contrast to Nymex crude oil, which returned to US$94/barrel, crude palm oil (CPO) declined further in the futures market Friday. Average price of futures contracts for the commodity is still way below RM2300/ton, while output will increase substantially in the coming months. In this report: Anglo Eastern's Expansion in Indonesia. | |
| • Palm Oil Journal/Edition 18/2013 | Palm Oil | Higher output from medium players capped recovery of palm oil. May contracts of CPO dropped almost 3% Monday, while the benchmark July contract lost RM39 to RM2273 per ton. In this report: (1) Bumitama Agri, (2) Sampoerna Agro, etc. | |
| • Plantation Companies: Actions & Results | Palm Oil | Austindo Group has decided to cut the size of its initial public offering (IPO) from 23% to 10% of shares due to weak market condition of palm oil. REA Holdings Plc, meanwhile, has also decided to delay its planned IPO of PT Rea Kaltim Plantations on Indonesia Stock Exchange (IDX). Also in this report: First Quarter Results of London Sumatra (LSIP) and Salim Ivomas Plantation (SIMP). | |
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