KUALA LUMPUR: PT Eagle High Plantations Tbk (EHP) expects its fresh fruit bunch (FFB) production in Q4/2016 to rise by 12 per cent when compared to the same period last year.
The assessment was based on the relatively young age of most of their oil palm trees and the weakening impacts of El Nino this year, the company said in a statement.
“The rise in the FFB production is expected as most of the company’s oil palm trees are still at a relatively young age. Moreover, it is likely that the El Nino impacts will subside this period,” company secretary of PT EHP Deddy Setiadi said in Jakarta.
Business Times reported today that Federal Land Development Authority (Felda) is believed to have concluded talks on buying a stake in PT THP for around US$500 million (RM2.2 billion). The deal is expected to be announced in the next few days, sources said.
Deddy said the company has commenced the operation of one palm oil mill (PKS) with a capacity of 45 tons per hour in November. It is located in Ketapang Regency, West Kalimantan, as majority of the oil palm trees in the company’s several estates in Ketapang is ready to harvest.
“And most importantly, the company have been able to maintain the consistency of their Crude Palm Oil (CPO)’s Oil Extraction Rate (OER) at over 23.5 per cent,” Deddy said.
Additionally, the company has implemented sustainable management of their oil palm estates as required by the government through the ISPO (Indonesian Sustainable Palm Oil) certification. “This year PT Jaya Mandiri Sukses, one of the company’s subsidiaries, succeeded in obtaining the ISPO certificate,” he said.