April 19, 2018 / 5:56 AM / a month ago

BRIEF-Sipef Total Palm Oil Production Down 3.3% Compared With Q12017

April 19 (Reuters) - SIPEF NV:

* PALM OIL PRODUCTION AT GROUP-OWNED PLANTATIONS UP 3.5% COMPARED TO THE FIRST QUARTER OF 2017

* GROUP’S TOTAL PALM OIL PRODUCTION FELL BY 3.3% COMPARED WITH THE FIRST QUARTER OF 2017

* EXPECT STABLE RUBBER PRODUCTION IN INDONESIA OVER THE NEXT FEW QUARTERS

* STRONG RISE IN PALM OIL VOLUMES IN INDONESIA (+11.4%) NEUTRALISED BY FALLING VOLUMES IN PAPUA NEW GUINEA (-19.9%)

* EXPECT RECOVERY OF BANANA PRODUCTION IN IVORY COAST AND TEA PRODUCTION IN CIBUNI, JAVA, TO BE SLIGHTLY BETTER THAN LAST YEAR

* STABLE PALM OIL MARKETS TRADE IN A NARROW BAND BETWEEN USD 660 AND 700 PER TONNE CIF ROTTERDAM

* 50% OF PALM OIL PRODUCTION FOR THE YEAR 2018 SOLD AT USD 738 PER TONNE CIF ROTTERDAM, PREMIUMS INCLUDED

* PROSPECTS FOR PALM OIL PRODUCTION IN Q2 REMAIN POSITIVE ALTHOUGH LESS STRONG THAN IN THE Q1

* SALE OF THE BDM-ASCO INSURANCE ACTIVITIES MOST LIKELY TO BE COMPLETED IN Q2/2018

* EXPECT TO BE ABLE TO DELIVER ANNOUNCED GROWTH PROJECTION OF 9% FOR TOTAL GROUP PRODUCTION OF PALM OIL IN 2018 Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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