JAKARTA – The increasing price of crude palm oil (CPO) boosts PT Cisadane Sawit Raya Tbk’s (CSRA) revenue throughout Q1 2021. Its sales also increases by 20.8% from Q1 2020.
Iqbal Prastowo, the Corporate Secretary of CIsadane Sawit Raya, announced that the company scores IDR 175.97 billion in revenue, growing from IDR 145 billion. “This gain is driven by the increasingly higher average selling price,” Prastowo explained.
As of March 2021, the CPO futures contract for January 2021 delivery in Malaysia Derivative Exchange (MDE) reached MYR 3,900 per tonne. Meanwhile, the CPO price in FOB Indonesia went over IDR 10,000 per kg (excluding tax).
On another side, CPO production diminishes by 3.7%, from 9,415 tonnes to 9,062 tonnes. The palm kernel production decreases from 2,142 tonnes to 2,125 tonnes, while fresh fruit bunches production increases to 71,408 tonnes/Ha from 64,549 tonnes/Ha.
It is specified that this gain is also accompanied by the increased profit from IDR 32.5 billion to IDR 41.4 billion. “This profitability indicates that the company’s innovation strategy in developing the business and its cost management have been strategically performed,” Prastowo claimed. (LK/ZH)