Revenue dips for Bumitama despite price spikes
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Bumitama Agri Ltd, a major Indonesian palm oil producer, reported a 2.8% year-on-year decline in third-quarter revenue to IDR 3.9 trillion, despite a 17% increase in crude palm oil prices and a 75% rise in palm kernel prices. Net profit rose marginally by 0.8% year-on-year. Analysts predict modest profit growth to IDR 2.9 trillion by 2027. The company faces environmental challenges, including deforestation and climate change impacts on its 180,000 hectares of plantations.
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