PALMOILMAGAZINE, JAKARTA – Palm oil plantation company PT Sawit Sumbermas Sarana Tbk (SSMS) expressed optimism about its 2024 performance, driven by positive projections for the crude palm oil (CPO) industry.
The company plans to rely on its extensive, productive, and sustainable palm oil plantations, while maintaining a strong commitment to environmental responsibility and efficient agribusiness practices.
SSMS Corporate Secretary Deni Agustinus stated that the global prospects for the CPO industry are expected to grow significantly next year, largely due to increasing demand from developing countries like India and China, where palm oil consumption for both food and industrial purposes is on the rise.
Also Read: SSMS Financial Performance Surges at the Start of the Year: Profit and Revenue Increase
“Renewable energy policy in some European countries that encourage biodiesel usage in CPO – base, would increase the demands globally,” Deni said, as in the official press conference, as Palmoilmagazine.com quoted, Monday (26/8/2024).
Deni also said about the close production control from the two main palm oil producer countries, such as, Indonesia and Malaysia. It is hoped to balance the supply, maintain CPO stable price in many countries, and supporting weather condition to get CPO production in Southeast Asia.
To optimize the company’s performance, SSMS implemented the latest technology in its operation to increase plantation productivity and get efficient costs. SSMS reinforced its position in the domestic and international scale – markets by diversifying products, implementing sustainable business, and increase mills’ capacity.
“The combination of efficient operation, high quality – products, and wide market access, managed SSMS as one main actor that is ready to compete and get profits from the prosperous CPO industries this year,” Deni said. (P2)
