TAPG – Targeting CPO production to increase by single digits

TAPG – Targeting CPO production to increase by single digits Triputra Agro Persada (TAPG) targets production to increase in single digits this year because there is still El-Nino impact from 2023. Note that, TAPG posted fresh fruit bunch production of around 3.05 mn tons (-5% yoy) in 2023. TAPG estimates that CPO prices this year will be at a high level compared to the average of the last 5 years. Opportunities from the CPO industry also come in line with the expected decline in fertilizer prices. TAPG recorded sales of IDR6.03 tn (-10.49% yoy) and net profit of IDR1.1 tn (-10.45% yoy) in 9M23. (Source: Bisnis Indonesia)