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CPO Prices Improve, Palm Oil Industry Confidence in Revenue Grows by 2 Digits in 2021

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Liputan6.com, Jakarta – It is believed that the performance of the palm oil industry will improve in 2021. This is considering the high demand for the export market plus the demand for palm oil for energy consumption.

Director of PT Eagle High Plantations Tbk (BWPT) Henderi Djunaidi said the increasing demand for palm oil was also driven by the implementation of government policies with the B30 program. This optimism is also supported by the value of plant assets entering prime age with an average age of 11 years.

Seeing this opportunity, the company is optimistic that the financial balance will improve and is aiming for double-digit revenue growth in 2021.

Henderi explained that this would be achieved through the company’s strategy with more efficient operational management and increased production and supported by improved CPO prices, increased rainfall in 2020, and the value of plant assets entering prime age.

“The company is also committed to continuing the sustainability program in accordance with the road map that has been set. Throughout 2020, the Company continued the data verification process towards the addition of obtaining the RSPO certificate. With this certification, the Company will get an additional premium CPO price,” said Henderi, Thursday (12/8/2021).

In 2020, BWPT managed to record a positive operating cash flow of IDR 171 billion in 2020, a reversal from the previous year’s negative IDR 759 billion.

With the Covid-19 pandemic, 2020 is a year full of challenges. However, the Company has proven its strong resilience and business continuity where this will be a valuable capital in utilizing the momentum of the turning point of the revival of the Company’s performance.

“The company consistently strives for efficiency. This can be seen from the decrease in general and administrative costs by 23 percent compared to last year so that the Company posted a net loss of Rp. 1.1 trillion or 5.1 percent better than last year’s net loss,” said Henderi Djunaidi.

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CPO Price Depends on China and India

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