JAKARTA - PT Astra Agro Lestari Tbk (AALI) has achieved a net profit attributable to business owners of up to IDR 1.06 trillion. This profit decreased 38.8 percent compared to 2022 amounting to IDR 1.73 trillion.
President Director of PT Astra Agro Lestari Tbk Santosa said the net profit was obtained from the company's net income which reached IDR 21.83 trillion, or a decrease of 5 percent compared to the same period in the previous year.
According to him, the decline in both the company's net income and net profit in 2023 was due to the increase in crude palm oil (CPO) prices which reached 13.9 percent compared to 2022, from 1.813 US dollars per ton to 964 US dollars / tons.
"This sharp price decline has led to corrections to the financial performance of the Indonesian palm oil industry, including the Company," he said, quoting Antara.
However, he continued, the company's Fresh Fruit Tandan (FFB) production increased by 4.8 percent from 3.16 million tons in 2022 to 3.31 million tons in 2023.
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Santosa stated that the Indonesian palm oil industry is facing productivity challenges, one of which is due to the average age of an aging national crop, as much as 46 percent are plants that enter negative growth.
"The challenge for increasing productivity in 2023 is also getting serious considering the El Nino cycle that the company must face," he said during a public expose.
Nevertheless, he added, the company is optimistic about the future of the palm oil industry. The old plant solution, the company continues to replant or rejuvenate palm oil plants.
"Throughout 2023, the company managed to rejuvenate 4,713 hectares of plantations with superior seeds from the results of our research and development development. This has increased long-term productivity," he said.
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