consumers is concerning if the consuming of palm oil will have any negative impact to their health. Natural fatty alcohols demand has remained in good condition when compared to the previous quarter and the

tight supply from shutdown of some Natural Fatty Alcohols producers in China and India in avoidance of risk during volatile crude palm kernel oil price. With this opportunity, the company ramped up our

Analysis | 2 Executive Summary In 2Q2018, Domestic palm oil production has increased as well as in other countries, consequence to lower Crude Palm Oil (CPO) prices and Crude Palm Kernel Oil (CPKO) prices

tax of palm oil. Lastly, there were some fatty alcohols producers declared Force Majeure. From these factors, demand for natural fatty alcohols has improved from previous year. Due to the aforementioned

cause was from global palm oil inventory recovery after El Niño effect in 2016. Overall, demand for Natural FA improved from previous year as price trended toward to equilibrium condition where price of

Crude Palm Kernel Oil(CPKO) prices than that of 1Q2017. Under these circumstances, the government has maintained B7 mandate in this quarter, comparing to the mandate of B5 back in 1Q2017. For Natural

Ratios 19 P a g e | 3 - Management Discussion and Analysis 2Q2020 - Executive Summary In 2Q2020, crude palm oil (CPO) price was higher than 2Q2019 caused by the implementation of biodiesel B10 as the

, supply for Natural Fatty Alcohol was tight in some regions, as some Fatty Alcohol producers shutdown from volatility of crude palm kernel oil in quarter 2/2017. 6M/2017 Market P2F (Product to Feed) of

1Q2020, overall palm oil production in both domestic and international market declined due to the significant impact of drought on agriculture. According to Department of Internal Trade, local crude palm

19 - Natural Resources Financial Position Statement of Cash Flows Statement Financial Ratios Environment Management Accounting Management Discussion and Analysis of Business Operation for Q1/2019