JAKARTA - Although the price of Crude Palm Oil (CPO) in 2018 was lower than in 2017, PT Mahkota Group Tbk (MGRO) still recorded an increase in its sales revenue. CPO contributed Rp 1.51 trillion or 75.4% of the company's total revenue (Rp 2 trillion) in 2018.
As quoted from the company's annual report, Usli, President Director of PT Mahkota Group Tbk (MGRO), said that the company's revenue increased by 13.5% from Rp 1.76 trillion in 2017 to Rp 2 trillion. "The revenue was mainly contributed by CPO, followed by palm kernel [which contributed] Rp. 355.58 billion or 17.8% of sales revenue," he said.
CPO prices fell by 17% from Rp 714.4 per metric ton in 2017 to Rp 595.5 per metric ton in 2018. This was caused by an oversupply of peanut production and an increase in import taxes as a consequence of a trade war between China and the United States. (LK/AR)