Jakarta, CNBC Indonesia – Palm oil is one of the country’s leading commodities, which experienced a significant price increase this year.
After undergoing a correction trend towards the end of the second quarter of this year, crude palm oil (CPO) prices resumed their rally which had actually been happening since the beginning of last year.
On Friday (15/10) morning trading, the price of CPO on Bursa Malaysia was recorded at MYR 5,160/ton, which means that since the beginning of the year the price has increased by up to 30.63% since the beginning of 2021.
So how will the booming prices of Indonesia’s main export commodities affect the tycoons ruling the palm oil industry?
Here, the CNBC Indonesia Research Team tries to describe which Indonesian tycoons will benefit from this year’s palm price rally.
Anthoni Salim
Anthoni Salim who is one of the profitable tycoons. The duo of issuers of the agribusiness group belonging to the Salim Group, PT Salim Ivomas Pratama Tbk (SIMP) and PT Perusahaan Perkebunan London Sumatra Indonesia Tbk (LSIP) were able to record quite impressive performance.
Salim Ivomas, an issuer engaged in the process of increasing the added value of agribusiness products and marketing cooking oil products, recorded a net profit of Rp 219.00 billion in the first half of this year, an improvement from a net loss of Rp 300.81 billion in the period last June 2020. The company’s assets also recorded a slight increase compared to the position at the end of last year.
In addition, SIMP’s subsidiary in the oil palm and rubber plantation business, PT Perusahaan Perkebunan London Sumatra Indonesia Tbk (LSIP), reported an even more fantastic increase in net profit.
LSIP’s net profit increased by 445% to Rp 501.22 billion at the end of June 2021, from the same period the previous year which was only Rp 91.99 billion.
Apart from palm oil, the majority of Salim’s wealth was obtained from consumer issuers Indofood, retail issuers DNET as well as technology issuers DCII and Emtek.
Forbes noted that in 2020 his wealth reached US$ 5.9 billion or equivalent to Rp. 84.37 trillion (exchange rate of Rp. 14,300/US$), and was included in the ranks of the richest people in the country.
Next Page >>> Susilo Wonowidjojo to Son of Sampoerna
– .
