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R.E.A. Holdings harvest in line with budget

By BFN News | 11:02 AM | Friday 06 May, 2011


Palm oil group R.E.A. Holdings plc reported fresh fruit bunches harvested during the four months to end-April amounted to 191,530 tonnes, in line with its budgeted crop and comfortably ahead of the crop of 167,607 tonnes a year ago. External purchases totalled 9,160 tonnes, slightly ahead of the budgeted 8,315 tonnes and well up on 5,781 tonnes in 2010. R.E.A. said its crude palm oil extraction rate was slightly disappointing at 22.5% against a rate of 24.3% for the same period in 2010. The full-year target rate now looked optimistic but the company hoped it would be closer to target in the remaining months. In coal operations, the first seams at the Kota Bangun concession were exposed in January and production levels were being expanded towards the intended level of 16,000 tonnes per month. Sales of traded coal to date amounted to 105,500 tonnes. The group remained on target to reach an average monthly level of 100,000 tonnes. R.E.A. said that with CPO and crude palm kernel oil prices looking set to remain at or near current levels for a while longer, it believed 2011 should be another good year for the group. At 11:01am: (LON:RE.) R.E.A. Holdings share price was -4p at 751p Story provided by StockMarketWire.com

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