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Ammonium Nitrate becomes Ancora's top products

20 September 2018 06:31 AM  Company: PT. Ancora Indonesia Resources Tbk[OKAS]
Rp. 168  -4 (-2.33%)

JAKARTA - The increase in coal prices and import restrictions has lifted the price of Ammonium Nitrate (AN) as well as being one of the best-seller of PT Ancora Indonesia Resources Tbk (OKAS)'s production.

President Director of Ancora Indonesia Resources Teddy Kusumah Somantri said that aside from the issue of production and coal prices, there were other factors that made AN's business increased. That is because of restrictions on imports of AN, so that coal companies shift their purchases to AN’s domestic producers.

"Our markets are all domestic. So if imports are limited, they must buy from national products, which may have previously been bought from outside. Because the production and prices in the country are already competitive,” Somantri explained as quoted by Kontan.co.id, Wednesday (19/9).

At present, the average production from two AN Ancora factories in Cikampek is 11,000-12,000 tons per month. With the current conditions, Somantri continued, the amount could be directly absorbed by the market. He even said that his company would push the production to the maximum capacity, which amounted to 12,500 tons. (AM/LM)

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PT. Ancora Indonesia Resources Tbk [OKAS]   Rp. 168   -4 (-2.33%)