First Resources' crude palm oil production up 38.4% in Q4
Agribusiness goliath First Resources announced higher unrefined palm oil generation in 4Q16 in accordance with the spike in crisp natural product cluster creation.
As indicated by a UOB KayHian report, CPO generation expanded 12.7% QoQ and 19.0% YoY in 4Q16 on the back of an enhanced oil extraction rate (OER). In any case, for the entire of 2016, CPO generation dropped 7.6%.
UOB said costs are relied upon to be higher in the said quarter, as Indonesia Dumai/Belawan CPO costs crept up 3.8% QoQ yet surged 38.4% YoY.
"The generous increment in CPO costs was primarily because of tight supply and stable fare request. With everything taken into account, we figure CPO costs will drift at US$650-750/ton in 1H17, and are probably going to decay when generation gets in 2H17," the firm clarified.
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