Rising palm oil prices make business for Belgian company Sipef

The Belgian company Sipef, which operates palm oil plantations in Southeast Asia in particular, saw its production of this oil increase by 18% in the first half, thanks to favorable conditions and higher yields, announced the business on Thursday.

This increased production, combined with high prices on the palm oil market, brought Sipef’s turnover in the first half of the year to more than $ 182 million (+ 54.8%). The operating profit of the Belgian company, of which the AvH holding company owns nearly 25% of the capital, exploded to reach 50.13 million dollars while its net profit amounted to 46.26 million dollars, also supported by the sale of rubber and tea assets (PT Melania).

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