Palm oil output by PT Astra Agro Lestari Tbk, Indonesia's largest publicly traded plantation company, rose 10.3% to 1.08 million tons, the company said in a statement on its Web site today.
Astra Agro has announced that its net profit fell 52 percent in the first half because of lower palm oil sales.
The company booked earnings of IDR769.8 billion, compared with IDR1.6 trillion in the year-earlier period.
Sales fell to IDR3.5 trillion, down 24 percent from IDR4.6 trillion in last year’s first half. The company’s debt also rose 43 percent to IDR503 billion as it still had obligations to pay IDR85 billion in short-term loans and as much as IDR266 billion for fertilizer and employee bonuses for 2009, as well as payments to suppliers of IDR106 billion.
The company forecast that total Indonesian production of the commodity would rise 7.3 percent this year to 20.6 million tons, with export volume expected to increase 6.8 percent to 15.6 million tons from 14.6 million tons in 2009.
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