REA Holdings Produced 207,481 Tons Of Fresh Fruit Bunches In May

8th Jun 2010 11:46

LONDON (Dow Jones)--R.E.A. Holdings PLC (RE.LN), a crop plantation operator, said Tuesday crop of oil palm fresh fruit bunches, or FFB, harvested to end May amounted to 207,481 tonnes, significantly ahead of the crop for the corresponding period in 2009 of 192,035 tonnes but below the budgeted crop of 225,846 tonnes. MAIN FACTS: -Nothing has occurred to cause the directors to revise the views that they expressed in the 2009 annual report regarding the outlook for the group. -Rainfall to end May of 2,015 mm across the group's operations compared with 1,610 mm during the same period in the previous year. -Variations from year to year in the monthly phasing of each year's crops are normal and the directors believe that the budgeted FFB crop for 2010 of 561,000 tones remains a realistic projection. -The crude palm oil, or CPO, extraction rate for the five month period to end May was 24.3% against a rate of 23.7% for the corresponding period in 2009. -The CPO price has continued to hold good levels during 2010 to date trading for the most part at in excess of $800 per tone, CIF Rotterdam, and currently standing at $795 per tone. -Retains its oil palm planting target for the two year period to the end of 2011 of 8,000 hectares in total. -At 1043 GMT shares flat at 505 pence. -By Elliott Ball, Dow Jones Newswires; 44-20-7842-9314; [email protected] -0- (MORE TO FOLLOW) Dow Jones Newswires June 08, 2010 06:46 ET (10:46 GMT)