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Sunday, October 24, 2010

Astra Agro 3rdQ/2010 CPO sales dropped 0.78%

BI / exchange
21/10/2010
Irvin Avriano A.

Astra Agro 3rdQ/2010 CPO sales dropped 0.78%

JAKARTA: PT Astra Agro Lestari Tbk sales of crude palm oil (CPO) decreased slightly by 0.78% from 767,946 tons to 761,919 tons during 3rdQ/2010.

Based on the PT Astra International Tbk subsidiary's monthly release that published in Thursday, its recorded sales of domestic consumption rose slightly by 2.8% from as much as 674,607 tons to 693,456 tons in the same period.

Although the local market sales increases, the CPO export sales actually declined a larger number, equals to 26.7% from about 93.339 tons in the 3rdQ/2009 to 68,463 tons in the 3rdQ/2010.

The company also posted a declining sales of 8.4% of the palm kernel as much as 107,230 tons to 98,214 tons in the same period. While sales decreased, Astra Agro sale prices of CPO and kernel booked strengthened.

CPO selling prices increased by 5.4% from IDR6,336 per kilogram to IDR6,677 per kilogram, in line with the price of palm kernel sales by 39% from the level of IDRp2,597 per kilogram to IDR3,610 per kilogram.

For the period October to December 2010, the company predicts global CPO consumption level is lower than the level of production, which amounted to 12.18 million tons or 0.53 million tonnes below the level of production.

But in the total, until the end of this year 2010, total world consumption of palm oil is predicted to remain above the level of production estimated at 46.85 million tons or 0.16 million tons above the predicted level of production will reach 46.69 million tons.

Astra Agro stock price which coded AALI was stagnant at IDR24,200 level and establish its market capitalization to IDR38.11 trillion in Thursday's trading.

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