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Astra Agro Lestari supports the government in protesting EU palm oil ban

15 April 2019 02:13 PM  Company: PT. Astra Agro Lestari Tbk[AALI]
Rp. 12,225  -75 (-0.61%)

JAKARTA. PT Astra Agro Lestari Tbk (AALI) expressed its support for the Indonesian government, in protesting European Union policies that prohibit the use of Crude Palm Oil (CPO) and its derivative products.

Santosa, President Director of AALI, admitted that the Renewable Energy Development (RED) II policy did not have significant effect on the company's performance. The reason is, said Santosa, because the company does not only rely on CPO export lines and derivative products.

"It doesn't matter whether it is export or domestic. We sell at the best price every day, "Santosa said when met by idnfinancials.com on Monday (15/4).

Nevertheless, Santosa acknowledged that the export of CPO and its derivative products contributed significantly to the company's sales. "Our exports were 40.6% while local were 30% in 2018."

In addition, Santosa explained that the export demand in recent years was still stable. In terms of demand, AALI also said there was no significant decline. "The demand was flooded a bit last year," Santosa said. (KR/AR)

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PT. Astra Agro Lestari Tbk [AALI]   Rp. 12,225   -75 (-0.61%)