sales volumes plus greater main raw material costs from higher crude oil price and tight market supply. However, the overall spread margin was improved and bring 23.9% gross profit margin comparing to

or 17.2% due the drastic decline in Ethylene and Glycerin price from ample supply plus lower crude oil price. 2. In Q3 2019, Selling and Administrative Expenses was 361 MTHB, increased by 42 MTHB or

Rule”). Currently, the Company focus on the business expansion of the crude palm oil (CPOA) trading business for biodiesel as there is a high potential growth and will partially conducting a trading CPOA

Crude Oil from other country and also support stability of the power business of Thailand. The Company contemplates to expand its business to cover crude palm oil (CPOA) trading business for biodiesel and

| 2 Executive Summary In 2019, overall palm oil production and crude palm oil ( CPO) inventory remained high in both domestic and international market, although the inventory plunged to a minimum record

Limited Global Green Chemicals Public Company Limited Management Discussion and Analysis | 2 Executive Summary In 1Q2019, palm oil production and crude palm oil (CPO) inventory have remained high in both

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

Limited Global Green Chemicals Public Company Limited Management Discussion and Analysis | 2 Executive Summary In 2Q/2019, overall palm oil production and crude palm oil (CPO) inventory have remained high

oil price throughout the quarter, leading to an inventory loss. However, despite the refinery Hydrogen Production Unit and Hydrocracking Unit temporary shut down, refinery’s average crude run remained

| 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