PT Palma Serasih Tbk (PSGO) has set a production target of 637,000 tons this year.

Referring to the Palma Serasih 2020 annual report published on Tuesday (8/6), this total production consists of 453,000 tons of FFB from nucleus and plasma plantations, 159,000 tons of palm oil, and 25,000 tons palm kernel.

The company views that consistency in optimizing potential and flexibility in managing challenges are the keys to the company's success in realizing operational targets this year. During the ongoing COVID-19 pandemic and bringing business uncertainty, management views the palm oil industry as having good prospects this year.

Starting with an attractive trend in palm oil prices, palm oil production this year is projected to increase due to sufficient rainfall in 2020. In addition, the company projects demand palm oil to expand with a limited supply of substitute products and changes in conducive import policies in several palm oil importer countries