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REA crop 12% below budget

By BFN News | 02:35 PM | Monday 11 February, 2013

REA Holdings' crop of oil palm fresh fruit bunches for the year to the end of December amounted to 597,722 tonnes - only a little down 2011's 597,722 tonnes but 12% below the budgeted crop of 682,000 tonnes. The group purchased 64,014 tonnes of FFB from smallholders and other third parties (2011: 34,146 tonnes). Rainfall across the estates averaged 3,241 mm for 2012, similar to the level of 3,414 mm for the previous year. The widely predicted El Nino weather phenomenon did not materialise. Processing of the group's own FFB production and the externally purchased FFB, together totalling 661,736 tonnes (2011: 641,481 tonnes) produced 151,516 tonnes of crude palm oil (2011: 147,455 tonnes), 30,734 tonnes of palm kernels (2011: 28,822 tonnes) and 11,549 tonnes (2011: 10,815 tonnes) of crude palm kernel oil reflecting extraction rates of, respectively, 22.9% for CPO (2011: 23.0%), 4.7% for kernels (2011: 4.5%) and 37.7% for CPKO (2011: 38.4%). At 2:35pm: (LON:RE.) R.E.A. Holdings share price was -2.5p at 457.5p Story provided by

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