EBITDA was 111 MB, decreased 56% from quarter 3/2016 which was at 251 MB. Due to the continuous decrease in crude palm oil price since quarter 2/2017, the company realized Stock Loss for Methyl Ester
and THB 299 million, respectively. Biofuel Business suffered a decline in gross profit from the continuous decline of Crude Palm Oil price, leading to the price of the B100 product to decline as well
still affected by the oil price volatility in the global market. Despite the crude oil price recovery, the average crack spread between finished product and referenced crude oil price continues to decline
from narrower DTD/DB spread. Within this quarter there was an inventory gain of THB 241 million from the increase in crude price, but there was a loss from the crude and product oil price hedging
remains high, and gross refinery margin improved from the increase of crack spread for all products, along with a record of inventory gain from rising average crude oil price during the quarter. Marketing
joint partnership in a World Class Asset with long continuous production life, the oil produced is highly priced light crude oil. The investment is a considerable progress made on the foundations laid by
affected by the decline in most of the finished product and crude oil crack spreads, as a result of the oversupply situation in finished oil products, and the anxieties over the trade war between the US and
their allies unable to come to terms on oil production cuts. This further exemplified pressure on the price of crude in the global market to make a severe reduction late in the quarter. Average price of
announcement of biodiesel mandatory changed from B7 to B10. However, the average biodiesel selling price is significantly increased, which tracked the Crude Palm Oil (CPO) price in 2021 (Source: DIT) was 38.00
government sector introducing stimulus packages, which would cause demand for fuel consumption in the industrial and transport sector to increase. Moreover, the excess of crude oil supply trends to decrease