United Malacca Berhad Reports Unaudited Production Results for the Third Quarter and Nine Months Ended January 31, 2020; Provides Production Guidance for the Year Ending 30 April 2020
For the nine months, the company reported total FFB production of 263,981 tonne against 257,470 tonne a year ago.
The Group expects higher FFB production for the financial year ending 30 April 2020 due to the recovery of the palms from adverse weather in the past two years and higher productivity. Management's priority remains focused on improving labour productivity and cost efficiency as well as increasing FFB yield. Management expects the CPO price to be bearish in the fourth quarter of the current financial year in view of the decline in market demand due to the outbreak of COVID-19 and expected increase in crop production.