Posted on August 7, 2014, Thursday
KUCHING: Boustead Plantations Bhd (Boustead Plantations) aims to boost its fresh fruit bunches (FFB) yields in Sarawak.
The research arm of Maybank Investment Bank Bhd (Maybank IB Research) in a report said efforts are being taken to increase the security measures in the estates affected by unauthorised harvesting and pilfereage of FFBs.
It said the group may seek an amicable solution with claimants of native customary rights (NCR) land rights to avoid further disruptions to its plantation operations in the affected areas.
The group registered 11.4 per cent FFBs yield for its plantation in Sarawak last year compared with 17.3 per cent in Sabah and 19.9 per cent in Peninsular Malaysia.
Boustead Plantations posted a FFB yield per hectare of 16.5 metric tonne (MT) last year.
Maybank IB Research said this figure was relatively low to Malaysian Palm Oil Board’s (MPOB) national standard of 19 MT per hectare.
The research firm pegged the firm’s under-performance to the poor harvest recorded at its Sarawak estates of 11.4 MT per hectare.
Maybank IB Research believed the lower than expected FFB yield performance was attributed to the company’s disagreement with certain NCR landowners in its estates since 2010.
The disagreement has resulted in field blockades by certain native parties that prevented BPlant’s from harvesting of oil palm.
Similarly, Maybank IB Research said the NCR issue is not unique to Boustead Plantations as several other established planters faced the same situation.
Meanwhile, excluding the plantation in Sarawak, Boustead Plantations group’s FFB yield per hectare would have been higher at 18.6 MT, which is on par with the national level average of 19 MT.
The group’s plantation estate yields in Peninsular Malaysia have been consistently higher than the industry average, having estates well-diversified across the country.
The research firm observed that out of the combined 70.991 hectares of oil palm planted area in Malaysia, 25 per cent is located in Sarawak, 37 per cent in Sabah and 38 per cent in Peninsular Malaysia.
Maybank IB Research said the diversification of the plantation company’s estates made it less prone to severe weather conditions which might hit a specific location.
Moreover, Bastead Plant produced a total of 1.03 million MT of FFB output in Malaysia in 2013.
Breaking down to the geographical locations, the research firm noted approximately 0.205 million MT or 20 per cent of the company’s FFB output was contributed by estates in Sarawak, 0.452 million MT or 44 per cent from Peninsular Malaysia, 0.375 million MT or 36 per cent from Sabah.
Furthermore, out of the 41 oil palm plantation estates which is owned and co-owned by the company, nine are located in Sarawak, 12 in Sabah and 20 are located in Peninsular Malaysia.
As for the company’s palm oil mills, the research firm observed that out of the 10 palm oil mills with a combined capacity of 415 MT per hour, two are located in Sarawak, four in Sabah and four in Peninsular Malaysia.
In terms of mill operations, Boustead Plantations has achieved an oil extraction rate (OER) of 20.9 per cent in 2013 which was better than MPOB’s benchmark OER of 20.3 per cent.
The research firm noted that the higher OER was attributed to its crop as the selection of planting materials has resulted in larger mesocarp for greater oil yields but smaller-sized kernels.
As for the company’s customers, Boustead Plantations sells 100 per cent of its palm oil products domestically, sold to palm oil refineries located throughout Malaysia.
Major customers over the past four years include Bintulu Edible Oils Sdn Bhd, Sime Darby Future Trading Sdn Bhd, Sandakan Edible Oils Sdn Bhd and Pasir Gudang Edible Oils Snd Bhd.
Apart from that, the research firm also pointed out that palm product sales to Wilmar Group collectively accounted for some 34 per cent of the group’s 2013 revenue.
Hence, the research firm believed that an agreement which could be reached between the company and the NCR landowners in Sarawak could boost its FFB yield.
At the same time, it will also provide more business opportunities for the plantation company to emerge as one of the largest upstream plantation players by oil palm planted area throughout the country.
The research arm of Maybank Investment Bank Bhd (Maybank IB Research) in a report said efforts are being taken to increase the security measures in the estates affected by unauthorised harvesting and pilfereage of FFBs.
It said the group may seek an amicable solution with claimants of native customary rights (NCR) land rights to avoid further disruptions to its plantation operations in the affected areas.
The group registered 11.4 per cent FFBs yield for its plantation in Sarawak last year compared with 17.3 per cent in Sabah and 19.9 per cent in Peninsular Malaysia.
Boustead Plantations posted a FFB yield per hectare of 16.5 metric tonne (MT) last year.
Maybank IB Research said this figure was relatively low to Malaysian Palm Oil Board’s (MPOB) national standard of 19 MT per hectare.
The research firm pegged the firm’s under-performance to the poor harvest recorded at its Sarawak estates of 11.4 MT per hectare.
Maybank IB Research believed the lower than expected FFB yield performance was attributed to the company’s disagreement with certain NCR landowners in its estates since 2010.
The disagreement has resulted in field blockades by certain native parties that prevented BPlant’s from harvesting of oil palm.
Similarly, Maybank IB Research said the NCR issue is not unique to Boustead Plantations as several other established planters faced the same situation.
Meanwhile, excluding the plantation in Sarawak, Boustead Plantations group’s FFB yield per hectare would have been higher at 18.6 MT, which is on par with the national level average of 19 MT.
The group’s plantation estate yields in Peninsular Malaysia have been consistently higher than the industry average, having estates well-diversified across the country.
The research firm observed that out of the combined 70.991 hectares of oil palm planted area in Malaysia, 25 per cent is located in Sarawak, 37 per cent in Sabah and 38 per cent in Peninsular Malaysia.
Maybank IB Research said the diversification of the plantation company’s estates made it less prone to severe weather conditions which might hit a specific location.
Moreover, Bastead Plant produced a total of 1.03 million MT of FFB output in Malaysia in 2013.
Breaking down to the geographical locations, the research firm noted approximately 0.205 million MT or 20 per cent of the company’s FFB output was contributed by estates in Sarawak, 0.452 million MT or 44 per cent from Peninsular Malaysia, 0.375 million MT or 36 per cent from Sabah.
Furthermore, out of the 41 oil palm plantation estates which is owned and co-owned by the company, nine are located in Sarawak, 12 in Sabah and 20 are located in Peninsular Malaysia.
As for the company’s palm oil mills, the research firm observed that out of the 10 palm oil mills with a combined capacity of 415 MT per hour, two are located in Sarawak, four in Sabah and four in Peninsular Malaysia.
In terms of mill operations, Boustead Plantations has achieved an oil extraction rate (OER) of 20.9 per cent in 2013 which was better than MPOB’s benchmark OER of 20.3 per cent.
The research firm noted that the higher OER was attributed to its crop as the selection of planting materials has resulted in larger mesocarp for greater oil yields but smaller-sized kernels.
As for the company’s customers, Boustead Plantations sells 100 per cent of its palm oil products domestically, sold to palm oil refineries located throughout Malaysia.
Major customers over the past four years include Bintulu Edible Oils Sdn Bhd, Sime Darby Future Trading Sdn Bhd, Sandakan Edible Oils Sdn Bhd and Pasir Gudang Edible Oils Snd Bhd.
Apart from that, the research firm also pointed out that palm product sales to Wilmar Group collectively accounted for some 34 per cent of the group’s 2013 revenue.
Hence, the research firm believed that an agreement which could be reached between the company and the NCR landowners in Sarawak could boost its FFB yield.
At the same time, it will also provide more business opportunities for the plantation company to emerge as one of the largest upstream plantation players by oil palm planted area throughout the country.
Read more: http://www.theborneopost.com/2014/08/07/boustead-plantations-to-boost-ffb-yields-in-sarawak/#ixzz39hUFDlPN
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