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MAHKOTA GROUP (MGRO) RELEASES 2 NEW PRODUCTS IN THE SECOND QUARTER

15 March 2021

PT Mahkota Group Tbk (MGRO) will release two new products, namely palm kernel oil (PKO) and palm kernel expeller (PKE). The company will release these two products in the second quarter of 2021.

“As planned in 2021. In the second quarter at the earliest,” said MGRO Corporate Secretary Elvi, Monday (3/15/2021).

MGRO is optimistic that the launch of these two products can boost the company's turnover, considering that PKO and PKE are still palm derivative products which are raw materials for the production of finished goods.

Meanwhile, the main marketing strategy that the company will carry out after the product is released is to expand market share, both local and export.

“MGRO's strategy is to always expand market share both locally and exports while still paying attention to the benefits generated,” added Elvi.

Currently, the palm head products produced by MGRO are crude palm oil (CPO) and palm kernel (PK) in the form of refined bleached deodorized palm oil (RBDPO).

MGRO's optimism towards the company's turnover growth is reflected in the sales target which has almost doubled this year. MGRO is targeting sales of IDR 6 trillion, while the target in 2020 is IDR 3.2 trillion.

Previously, MGRO targeted 50 percent of product sales to be sold through export trade this year. The main export destination countries for MGRO's processed palm oil products are Malaysia and South Korea.

MGRO is also targeting the production and sales of the issuer's processed palm oil products to increase by 20 percent in 2021 compared to 2020.

Source : https://market.bisnis.com/read/20210315/192/1367580/mahkota-group-mgro-rilis-2-produk-baru-kuartal-ii2021