IN BRIEF: Anglo-Eastern Plantations quarterly production lowers
Anglo-Eastern Plantations PLC - producer of palm oil and rubber across Indonesia and Malaysia - Says in the first three months of 2023, production of fresh fruit bunches from continuing operations was 243,500 megatonnes, down 6% from 260,100mt the previous year. Says lower production trends were experienced in all regions except for Bangka and Kalimantan. Notes lower production in Bengkulu and North Sumatera were due to seasonal variation and the reduction of matured areas. Crude palm oil price averaged USD1,016 per million tonnes, down 36% from USD1,592 a year prior. Balance sheet remains strong, with net cash of USD284.6 million, up 11% from USD252.5 million a year prior. Says potential of El Nino weather phenomenon in second half of year may affect crop production and CPO prices. Read More