First Resources sees strongest Q1 production

It reported fruit bunch production of 624,688 tonnes.

Agribusiness powerhouse First Resources reported a record-high Q1 fresh fruit bunch (FFB) production in the past quarter, thanks to the support of new mature areas.

According to UOB KayHian, First Resources reported FFB nucleus production of 624,688 tonnes in 1Q17, which was its strongest 1Q production.

The brokerage firm noted that there are 17,000ha of new areas coming into maturity in 2017.

However, the group may brace for production cuts in the second quarter of the year, due to the still lingering effects of El Niño.

Meanwhile, UOB KayHian expects FFB production to return to normal by 4Q17.

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