Earning Money From Cooking Oil

Several issuers of palm oil plantations have cooking oil products, including PT Salim Ivomas Pratama Tbk. (SIMP), PT Tunas Baru Lampung Tbk. (TBLA), and PT Sinar Mas Agro Resources and Technology Tbk. (SMAR).

SMAR Investor Relations Pinta S. Chandra said that until the end of September 2021, sales of all CPO derivative products, including biodiesel and oleochemicals, contributed 88 percent to the company's total sales. Based on financial reports as of September 30, 2021, SMAR, which produces cooking oil under the Filma brand, posted sales of Rp. 40.38 trillion. Of this amount, the turnover of palm oil products is Rp. 37.63 trillion. On the other hand, the increase in CPO and cooking oil prices also made the government move to suppress prices. The Ministry of Industry opens up opportunities for palm cooking oil industry players to contribute to the program to stabilize prices for these commodities in the market. So far, as many as 70 palm cooking oil (MGS) producers are involved in circulating 1.2 billion liters of cooking oil for their needs over the next 6 months. Regarding this policy, Pinta said, SMAR continues to improve its ability to produce various palm-based derivative products with a broad portfolio to meet the growing needs of customers. This is in line with the policy of the Government of Indonesia in encouraging downstreaming. Until the end of 2021, SMAR has distributed 600,000 liters of cooking oil at affordable prices. The distribution policy will be continued by the company starting in January 2022. "The company will again support the government's policy in stabilizing prices through distributing cooking oil at affordable prices," he said.

|•SOURCE•| Articles :BISNIS | Image :INDIATIMES |

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