Golden Agri-Resources reports 3QFY21 earnings of US$115 million on higher selling prices and volume

The company notes that the on-going La Nina weather pattern will impact supply.

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Yet, demand has not been “significantly affected” despite the high prices.

“Notwithstanding the more conducive market environment, we remain cautious of any uncertainties from the lingering global Covid-19 pandemic,” the company states.

“Looking forward, industry prospects continue to be positive given palm oil’s important role in supplying the growing global vegetable oil demand.”

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Golden Agri-Resources closed Nov 11 at 27 cents, down 1.85% for the day and up 65.63% year to date.