SPUR SALES, MAHKOTA GROUP (MGRO) AIMS TO INCREASE EXPORT PORTION TO 50 PERCENT
15 March 2021
PT Mahkota Group Tbk (MGRO) targets 50 percent of product sales to be sold through export trade. The main export destinations for MGRO's processed palm oil products are Malaysia and South Korea.
MGRO Corporate Secretary Elvi explained that both production and sales will increase by 20 percent in 2021 compared to 2020.
“The export target will gradually be carried out until it reaches 50 percent of total sales with overall production and sales growth this year by 20 percent from the previous year's target,” Elvi, Friday (12/3/2021).
For this year, MGRO has not increased its export market target because it is preparing its new processed products, palm kernel oil (PKO) and olein. According to Elvi, until October 2020, the overall export volume of processed palm products recorded by the company reached 3.3 percent of the total sales volume. Elvi did not specify how many tons of MGRO product sales volume in 2020.
“For the latest data, we are still waiting for the results of the 2020 financial report audit,” he explained.
Until now, the processed palm oil products produced by MGRO are crude palm oil (CPO) and palm kernel (PK).
At the virtual public expose event held in November, as of October 2020 MGRO recorded sales for CPO of 241,000 tons.
This number grew 29 percent compared to 186,000 tons in 2019. Meanwhile, palm kernel sales reached 58,000 tons, up 16 percent compared to 2019 sales of 50,000 tons.
This year MGRO is aiming for sales of IDR 6 trillion. This target has doubled from the 2020 target of IDR 3.2 trillion.