State-owned plantations booked a combined net profit of Rp 4.1 trillion last year, up by about 25 percent from Rp 3.37 trillion in the previous year, according to data from the Office of the State Minister of State-Owned Enterprises.
Out of the 15 state-owned firms, state-owned PTPN III reported the largest net profit of Rp 1.26 trillion. Meanwhile, PTPN XIV was the only one to suffer losses of Rp 113 billion, up from Rp 46 billion in the earlier year.
Muhammad Zamkhani said that the increase in profit was contributed by rising prices of CPO and rubber. The combined CPO production of the state firms was 2.91 million tons, while productivity per ha was recorded at 19.39 tons of fresh fruit bunch per ha.
The highest productivity was recorded by PTPN IV at 23.90 tons per ha.
Rubber production totaled 222,107 tons, with productivity of 1.36 tons per ha. PTPN III saw the largest productivity at 1.62 tons per ha.
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Zamkhani said that the average CPO productivity of state firms at 4.04 tons of CPO per ha was still lower than the average productivity of private-owned palm oil firms at 5 tons per ha. “But the productivity of PTPN III and PTPN IV was comparable to that of the private-owned firms,” he said. (rei)
