On a quarterly basis, 3Q24 sales declined by 19% QoQ (vs 2Q24’s 10% QoQ) as the Sales are usually weakest on the first and third quarter. In the fourth quarter, sales consistently shot up by historical evidence in 4Q23 & 4Q22 with 303% QoQ & 85% QoQ, respectively. However, we anticipate a lower Sales volume for CPO in 4Q24 with moderate growth due to utilization rate recovery post-CPO momentum burst growth and moderate demand for CPO derivative products in domestic & global segment. Central Kalimantan is becoming unfavorable to FFB Yield result of SSMS due to higher yearly average temperature hit 32.5 celcius degree compare to Indonesia’s higher yearly average temperature by 29.6 celcius degree, which lead to SSMS’s unproductive FFB Yield/Ha decline to 17 tn/ha at 9M24 (vs.19 tn/ha at 9M23).
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