Revenue fell 17.6% to $27.2 million from nearly $33 million due to lower CPO sales volume due to shipment delay offset by a slightly higher Average Selling Price (ASP) of CPO during the quarter. Sales volume of CPO decreased 24% from 48,106 MT in 2Q16 to 36,778 MT in 2Q17, whereas average selling price of CPO increased 1% from US$611 to US$616.
SINGAPORE (Aug 14): Kencana Agri, the Crude Palm Oil (CPO) and Crude Palm Kernel Oil (CPKO) producer, has reversed to profitability in 2Q17 with earnings of US$7.1 million ($9.7 million) from a loss of US$6.7 million in 2Q16.
1H17 also saw Kencana Agri returning to the black with earnings of US$11.4 million from US$6 million a year ago.
