Ta Ann’s palm oil production rises; net profit up 13.3% in 2Q

KUALA LUMPUR: Ta Ann Holdings Bhd’s palm oil production is trending upwards as it enters the second half of the year with fresh fruit bunches (FFB) production cycle at its peak.

“With anticipation of tight supplies of vegetable crops due to dry weather in the Black Sea region, as well as higher consumption of biofuels in diesel in Indonesia, the crude palm oil (CPO) price is expected to hover only at the current level in the second half of the year,” Ta Ann said in the notes accompanying its financial results.