in both domestic and international market, consequence to lower crude palm oil (CPO) and crude palm kernel oil (CPKO) prices than that of 2Q/2018. Under these circumstances, in this quarter the

crude palm kernel oil price falling. On the other hand, fatty alcohols supply was much tight because of the announcement of permanent shutdown of a synthetic fatty alcohols plant in Europe and temporary

pushing biodiesel B10 to be the mandatory diesel in 2020 that lead to sharply rise in crude palm oil ( CPO) and crude palm kernel oil (CPKO) prices at the end of 2019. Since early 2019, the stock of crude

| 2 Executive Summary In 3Q/2019, overall palm oil production and crude palm oil (CPO) inventory remained high in both domestic and international market, thus crude palm oil (CPO) and crude palm kernel

at 34.2 Baht/kg. As for crude palm kernel oil, the inventory of crude palm kernel oil climbed up and back to normal level, but still was below the expected level. As a result, crude palm kernel oil

). Table 1 : Performance Summary Table 2 : Adjusted EBITDA Margin In the face of volatile crude palm oil and crude palm kernel oil prices’ movement, both had continued to decrease from quarter 1/2017 due to

could not be recorded in profit/loss statement because methyl ester plant 2 was under testing run for commercial operation. While, Methyl ester price increased following an increase in crude palm oil

% - Mid Cut 1,044 1,110 -6% 1,225 -15% 1,134 1,176 -4% - Long Chain 1,084 1,108 -2.2% 1,180 -8% 1,132 1,146 -1% Average Fatty Alcohols (2) 1,120 1,263 -11% 1,289 -13% 1,204 1,324 -9% Crude Palm Kernel Oil

palm oil and crude palm kernel oil (CPKO) comparing with previous year. Under these circumstances, the Thai government has maintained biodiesel mandate at B7 for whole year. In addition, the government

oil inventory remained high, crude palm oil (CPO) price continuously declined, as well as Crude Palm Kernel Oil (CPKO) price decreased. This year, the Thai government biodiesel mandate was set to B5 and