15 Indonesian Biggest Oil Palm Companies in 2020-There are 15 Biggest Oil Palm Companies in Indonesia Based on Annual Report 2020 Companies listed on the Indonesia Stock Exchange. Since a long time ago, Indonesia has been known as the largest palm oil producer in the world to date. Data from the World Food and Agriculture Organization (Food and Agriculture Organization) in 2018 showed that world crude palm oil (CPO) production reached seventy-one million tons. Of all world CPO production, Indonesia contributes more than 50% of world CPO production. In 2018, Indonesia’s CPO production reached forty million tons. This large production makes Indonesia an important player in meeting the world’s needs/demands for oil palm and its derivative products.
As an important country in the world oil palm industry, many parties (stakeholders) of course play a role in influencing the production of palm oil in Indonesia. One of these parties is the role of private corporations as the driving force for Indonesian palm oil production. Until 2020, many domestic and foreign corporations have played a role in large, medium, and small-scale palm oil production.
The company’s performance data is obtained from the annual report of each company and all the companies have listed on the Indonesia Stock Exchange. In this article, the palm oil companies analyzed are public companies. This is because publicly traded palm oil companies listed on the stock exchange transparently report their performance through the various quarterly, semester, or annual reports related to the entire company’s performance. Palm oil companies that are still closed or not owned by the public were not analyzed due to limited access to data and information, especially in terms of the business and financial performance of the company.
Profit/Loss Overview Ranking of the 15 Biggest Indonesian Oil Palm Companies in 2020
|Rank||Name of Company||Revenue||Revenue||Profit/(Loss)||Profit/(Loss)|
|In Indonesian Rupiah||In US Dollar||In Indonesian Rupiah||In US Dollar|
|1||Provident Agro, Tbk. (PALM)||233 billion||0,016 Billion||1,9 trilion||0,13 Billion|
|2||Smart, Tbk. (SMAR)||40,3 trilion||2.8 Billion||1,5 trilion||0,10 Billion|
|3||Astra Agro Lestari, Tbk. (AALI)||18,8 trilion||1.3 Billion||893 billion||0,063 Billion|
|4||Sawit Sumbermas Sarana, Tbk. (SSMS)||4 trilion||0.28 Billion||743 billion||0,052 Billion|
|5||PP London Sumatra Indonesia, Tbk. (LSIP)||3,5 trilion||0.25 Billion||695 billion||0,049 Billion|
|6||Dharma Satya Nusantara, Tbk. (DSNG)||6,6 trilion||0.47 Billion||478 billion||0,03 Billion|
|7||Salim Ivomas Pratama, Tbk. (SIMP)||14,4 trilion||1.02 Billion||340 billion||24 Million|
|8||Austindo Nusantara Jaya, Tbk. (ANJT)||2,2 trilion||0.15 Billion||30 billion||2 Million|
|9||Andira Agro, Tbk. (ANDI)||260 billion||0,018 Billion||(-10 billion)||(-0,7 Million)|
|10||Mahkota Group, Tbk. (MGRO)||4,1 trilion||0.29 Billion||(-49 billion )||(-3,5 Million)|
|11||Gozco Plantations, Tbk. (GZCO)||400 billion||0,028 Billion||(-182 billion)||(-13 Million)|
|12||Sampoerna Agro, Tbk. (SGRO)||3,5 trilion||0,25 Billion||(-192 billion)||(-13,7 Million)|
|13||Jaya Agra Wattie, Tbk. (JAWA)||461 billion||0,03 Billion||(-307 billion)||(-21 Million)|
|14||Bakrie Sumatera Plantations, Tbk. (UNSP)||2,5 trilion||0,178 Billion||(-954 billion)||(-68 Million)|
|15||Eagle High Plantations, Tbk. (BWPT)||2,1 trilion||0,15 Billion||(-1,1 trilion)||(-78 Million)|
|Source : Annual Report, 2020|
|Currecy Rate : 1 US Dollar = Rp 14.000|
|Description : Number in Parentheses shows the loss performance|
Brief Description of 15 Biggest Oil Palm Companies in 2020
1. Provident Agro
Provident agro is a joint venture company between PT Saratoga Sentra Business and PT Provident Capital Indonesia which was established based on the Limited Liability Company Deed No. 4 dated November 2, 2006, as an oil palm plantation company.
Until the end of 2020, the Company has one oil palm plantation located in Sumatra. The total planted area (core) reaches 6,295 hectares. The Company listed itself as a Public Company on the Indonesia Stock Exchange in October 2012. Until now, the composition of the company’s shareholders are PT Saratoga Sentra Business at 44.88 percent, PT Provident Capital Indonesia at 44.16 percent, and the Public 10%.
2.Sinar Mas Agro Resources and Technology (SMART)
This company was founded in 1962 and is under the auspices of the Sinar Mas Group, which was founded by the late Eka Tjipta Wijaya. Until 2019, the company managed around 138,000 hectares of oil palm land and a refinery with a capacity of 2.9 million tons annually.
Based on the downstream sector, there are several refined palm oil products sold in Indonesia such as Filma and Kunci Mas cooking oils Brand, vegetable fats under the Palm Vita brand, and lean products such as Menara. In meeting domestic needs, this company also exports its CPO to various countries such as European countries, China, India, Pakistan, the Middle East, African countries, and the United States.
3.Astra Agro Lestari (AALI)
The company was initially engaged in the cassava and rubber business and started its foray into the world of oil palm in 1984 by opening its plantation in the Riau Province. Along with the development of the company’s business, the total land area has also increased by managing oil palm plantations spread across Riau, Kalimantan, and Sulawesi. The total area of oil palm land in 2020 is around 287,604 hectares. Of this area, 215,375 hectares are nucleus estates and 72,229 are plasma plantations. In terms of product marketing, the company has also exported its palm oil processing products to various countries in the world such as China, Bangladesh, Pakistan, Malaysia, the Philippines, and South Korea.
4.Sawit Sumberamas Sarana
The company manages 93,660 hectares of core land and 22,862 hectares of plasma, which is headquartered in Bun, Central Kalimantan. Palm oil production in 2020 reached 1.61 million tons of Fresh Fruit Bunches (FFB) with CPO production reaching 448 thousand tons. In terms of ownership structure, this company is still under the auspices of Citra Borneo Indah.
5.London Sumatra Plantation (LSIP)
This company is one of the leading palm oil companies and has a lot of experience. Founded in 1906 by British company Harrison & Crossfield, the company has grown rapidly to become a major player in the palm oil world. In addition to the oil palm sector, the company also has businesses in the fields of cocoa, tea, and rubber plantations. As of 2019, the total plantation area is 116 thousand hectares of which ninety-six thousand hectares are oil palm land, 15,945 rubber land, and 4,083 hectares are cocoa/chocolate and tea land. In 2007, Salim’s palm oil company (Indofood Group) through its subsidiary Salim Ivomas Pratama took over most of the company’s shares. From 2007 until now, Lonsum has been a subsidiary of the Salim group.
6.Dharma Satya Nusantara (DSNG)
The company was founded on September 29, 1980, with a focus on the woodworking industry. Until 1996, they started their expansion by entering the palm oil business. To date, the plantation area has reached 112,450 hectares of which 84,556 hectares are core land and the rest is plasma land. Under the auspices of the Triputra Group, this company has grown and become an important player in the world of palm oil.
7.Salim Ivomas Pratama (SIMP)
The company was founded in 1992 and until now has become a major player in the upstream and downstream industries of oil palm plantations. As of 2019, the oil palm area has reached 253,000 hectares. In the downstream business, the company has twenty-six palm oil mills in Sumatra and Kalimantan with a total fresh fruit bunch (FFB) processing capacity of 6.8 million tons per year. Products from processed palm oil have also been widely sold in the market with brands, namely Bimoli cooking oil, Palmia Margarine.
8.Austindo Nusantara Jaya (ANJT)
The company has stated it business since 1993 and currently has 153,000 hectares of oil palm land spread across West Kalimantan, Papua, Belitung, and North Sumatra. In 2020, its performance showed encouraging results by recording revenues of 2.2 trillion Rupiah or 0.15 billion US Dollar equivalent with a net profit of thirty billion rupiahs or equivalent with 2 million US dollars.
9.Andira Agro (ANDI)
The company has established since April 28, 1995, with ownership of PT. Meta Epsi (67.88%) and PT. Anugerah Perkasa Semesta (32.12%). In 2018, this company listed its shares on the Indonesia Stock Exchange. Location The company’s plantations are in the vicinity of South Sumatra. Until 2019, the area of oil palm plantations reached ± 10,000 hectares.
10. Mahkota Grup (MGRO)
PT Mahkota Group has main office in Medan, North Sumatra and has established on January 7, 2011. Until now, the company is engaged in the business of processing palm oil. The total number of employees is one thousand employees. Currently the operational area of the subsidiary company PT. Mahkota Group, Tbk includes two palm oil mills in North Sumatra and four palm oil mills in Riau province as well as Bulking Station in Dumai.
11. Gozco Plantations, Tbk. (GZCO)
PT Gozco Plantations Tbk. was initially established under the name PT Surya Gemilang Sentosa, in Sidoarjo, East Java in 2001. However, in 2007, the company changed its name to PT Gozco Plantations after its domicile moved to South Jakarta. Gozco Plantation is an Indonesian producer of crude palm oil and palm kernel. The Company’s major operations include tree planting, fresh fruit bunch production, and processing of palm oil and palm kernel. Until 2020, the total plantation area reached 23,749 hectares with 38,889 tons of Crude Palm Oil (CPO) production 2020.
12. Sampoerna Agro (SGRO)
This company is owned by the Sampoerna family, which was established in 1993 with 84,300 hectares of land under management, with most of its plantations located on the island of Borneo. In 2020, the company’s revenue reached 3.5 trillion rupiahs or equivalent with 0,028 billion US Dollars but recorded a net loss of -192 billion rupiahs or equivalent with (-13,7 million US Dollar). Production of Fresh Fruit Bunches (FFB) reached 1.83 million tons with CPO production volume reaching 429 thousand tons. Sampoerna Agro started its business in 2002 in the palm oil processing industry and has main office in Medan, North Sumatra. In its business units, the company focuses on Crude Palm Oil (CPO), Palm Kernel, and Logistics businesses.
13. Jaya Agra Wattie, Tbk. (JAWA)
Jaya Agra Wattie, established in 1921, has production of fresh fruit bunches (FFB) reaching 58,908 tons and CPO reaching twenty-three thousand tons. In 2020, this company recorded revenue of 461 billion or equivalent with 0.03 billion US Dollars but recorded a net loss of (-307 billion rupiahs) or equivalent with (-21 Million US Dollar).
14.Bakrie Sumatera Plantations, Tbk. (UNSP)
The Bakrie Sumatera Plantation Company was firstly established under the name Naamlooze Vennootschap Hollandsch Americaansche Plantage Maatschappij with an office in Kisaran, North Sumatra as a rubber company. However, in 1992, the company changed its name to PT Bakrie Sumatera Plantations (BSP) and entered the palm oil business. To date, the company’s total oil palm plantations spread across various regions in Indonesia, including Lampung, Jambi, South Kalimantan, West Sumatra, and North Sumatra.
15. Eagle High Plantations, Tbk. (BWPT)
PT. Eagle High Plantations Tbk (BWPT) formerly known as PT. BW Plantation Tbk was established on November 6, 2000. Currently, the company’s operational canters are in three plantation locations, namely on the islands of Sumatra, Kalimantan, and Papua. The total area of plantations located on the three islands reaches 148,000 hectares. Meanwhile, in terms of production, the total capacity of the Company’s palm oil mill is 2.7 million tons of FFB per year.
Bibliography of 15 Indonesian Biggest Oil Palm Companies in 2020:
PT Astra Agro Lestari. 2021. Annual Report 2020. Accessed via https://www.astra-agro.co.id/laporan-tahunan/ on 19 August 2021
PT Sampoerna Agro. 2021. Annual Report 2020. Accessed via https://www.sampoernaagro.com/investor/annual-reports on 21 August 2021
PT Salim Ivomas Pratama. 2021. Annual Report 2020. Accessed via https://www.simp.co.id/InvestorRelation/AnnualReport.aspx on 20 August 2021
PP London Sumatra Plantation 2021. Annual Report 2020. Accessed via https://www.londonsumatra.com/Contents/annual-reports on 19 August 2021
Gozco Plantation. 2021. Annual Report 2020. Accessed via http://gozco.com/plantations/home/page/finance/83/annual/98 on 18 August 2021
Andira Agro. 2021. Annual Report 2020. Accessed via https://www.andiraagro.com/id/annual-report on 18 August 2021
Crown Group. 2021. Annual Report 2020. Accessed via https://www.mahkotagroup.com/page/laporan-tahunan on 18 August 2021
Sinar Mas Agro Resources and Technology. 2021. Annual Report 2020. Accessed via https://www.smart-tbk.com/investor/ on 18 August 2021
Sawit Sumberamas Sarana 2021. Annual Report 2020. Accessed via https://ssms.co.id/en/investor-relation on 17 August 2021
Eagle High Plantation. 2021. Annual Report 2020. Accessed via http://www.eaglehighplantations.com/annual-reports.html on 15 August 2021
Provident Agro 2021. Annual Report 2020. Accessed via http://www.provident-agro.com/annual.php on 16 August 2021
Jaya Agra Wattie. 2021. Annual Report 2020. Accessed via https://www.jawattie.com/id/investor-relations/annual-report on 19 August 2021
Bakrie Sumatra Plantation 2021. Annual Report 2020. Accessed via https://www.bakriesumatera.com/laporan-tahunan on 21 August 2021
Austindo Nusantara Jaya. 2021. Annual Report 2020. Accessed via https://anj-group.com/en/annual-report on 21 August 2021
Dharma Satya Nusantara. 2021. Annual Report 2020. Accessed via https://dsn.co.id/investor/ on 16 August 2021