- SGRO projects FFB production to decline 8% yoy in 2024
Sampoerna Agro (SGRO) projects production of fresh fruit bunches (FFB) in 2024 will fall by 8% yoy. The El Nino storm that occurred in 2H23 still impacted FFB production in Jul and Aug 24, especially for the Sumatra area. Therefore, SGRO sees that FFB production from core plantations is expected to be 5–8% yoy lower in 2024. The company hopes that SGRO’s FFB production in 2H24 will be better compared to 1H24, considering that the peak harvest of FFB production occurs at the end of the 3Q and the beginning of 4Q. According to Trading Economics, CPO prices have risen 7.12% mom to MYR 4,199 per ton, which would have a positive impact on SGRO’s financial performance. (Kontan) - UNTR sold 2,950 units of Komatsu in 8M24
United Tractors (UNTR) recorded a heavy equipment sales volume of 435 units on Aug 24, bringing total sales to 2,950 units in 8M24 (-25.33% yoy). Komatsu sales were dominated by consumers from the mining sector at 64%, followed by the forestry sector at 9%, construction at 14%, and agro at 13%. Meanwhile, Komatsu’s market share year to date is 28%. (Bisnis Indonesia)