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palm plantation in Indonesia

Focus Malaysia's Felda 2015 earnings to shrink on weak CPO market

Focus article by Nurluqman Suratman

SINGAPORE (ICIS)--Malaysian palm oil major and oleochemicals producer Felda Global Ventures (FGV) may see its full-year earnings shrinking in 2015, following a dismal first-quarter performance because of weak crude palm oil (CPO) prices, analysts said.

Felda, the world's largest CPO producer, reported on 26 May a 98% year-on-year decline in its first-quarter net profit to Malaysian ringgit (M$) 3.6m ($989,010), as production was hit by torrential rains and floods in east Malaysia and with average CPO prices falling 12% to M$2,279/tonne.

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