Higher CPO prices seen as reason for Golden Agri-Resources' boom in EBITDA

The company previously reported a 177.2% jump in EBITDA.

A 29.2% increase in CPO prices contributed to Golden Agri-Resources strong 1H21 performance.

The company earlier announced a 177.2% boom in earnings before interest, taxes, depreciation and amortization, amounting to $710m (US$523m).

Other factors include an increase in fresh fruit bunch production by 27% and palm product output by 31%. Because of this, the company expects a 2% increase in FFM from 10%-12%.

Despite this, however, the group expects a lower production rate in the second half of 2021.

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