13 June 2019

KONTAN.CO.ID - PT Mahkota Group Tbk (MGRO) stated that it managed to produce 59,044 tons of crude palm oil (CPO) or crude palm oil until April 2019 and 16,886 tons of palm kernel. However, this palm oil plantation issuer is still facing the challenge of falling global CPO prices.
 
Mahkota Group Corporate Secretary Elvi said, entering the second quarter they projected revenues of around IDR 1.4 trillion. “The challenges faced for the second quarter are the current world CPO prices which are still unstable and the start of the cycle of decline in fruit bunch harvests,” he told Kontan, Tuesday (11/6).

Meanwhile, for capital expenditure this year MGRO allocated funds of IDR 200 billion. He said, until April 2019 the absorption of capital expenditure was around IDR 53.2 billion, the majority of which was used for the construction of a new refinery plant.

For information, now Mahkota Group is developing a downstream business by building and operating a refinery plant. Later this factory will produce cooking oil with a production capacity of 1,500 tons per day. While the kernel crushing plant will produce 400 tons of palm kernel oil per day.

He added, the progress of the factory construction has reached 70%. Mahkota Group is also making preparations in terms of human resources, raw material supply chains, and market studies for operations at the end of 2019.

Source :  https://industri.kontan.co.id/news/hingga-april-2019-mahkota-group-mgro-produksi-59044-ton-ton-cpo