Expands New International Market, Copra Oil Company Enters Stock

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ACCURATE.CO PT Indo Oil Perkasa (IOP) is allegedly the first copra processing company listed on the Indonesia Stock Exchange (IDX), Monday (6/9/2021). The company is listed on the stock exchange with the stock code OILS.

In today’s trading opening, OILS shares were directly hit auto rejection above (ARA) rose 66 points or 24.44% to the level of Rp336 from the offer price of Rp270. Market capitalization reached Rp152.54 billion with trading volume exceeding 173.39 million shares.

IOP growth is so fast that by 2020 it has been able to rank 7th exporter of copra oil in Indonesia with sales of almost Rp300 billion, an increase of 300% within five years.

IOP is a coconut oil producer and exporter that was established in 2016 in Mojokerto, East Java, and produces copra oil (Crude Coconut Oil) and its derivatives, namely refined coconut oil (RBD Coconut Oil), and copra meal (copra meal). IOP’s products have been marketed to Sri Lanka, Malaysia and China, and are ready to be launched to other Southeast Asian countries.

In addition to producing ordinary copra oil (CNO), IOP also produces premium CNO with a quality almost equivalent to coconut oil that has gone through a refining process (refinery). This means that the premium CNO produced by IOP has a maximum free fatty acid content of only 3% and zero aphatoxin content with a color close to coconut cooking oil (RBD).

However, IOP will still build a cooking oil refining plant to be marketed domestically and abroad.

Currently, IOP’s production capacity reaches 100 tons of CNO per day, equivalent to 150 tons of copra per day. It is planned that the production capacity will soon be increased to 300 tons per day.

Production operations are supported by warehouses that can accommodate 4,000 tons of raw materials, oil tanks with a capacity of 500 tons, and a copra warehouse with a capacity of 3,000 tons.

The raw materials are taken from plantation land which is located in a strategic location in Mojokerto, about 59 km from Tanjung Perak port, Surabaya. With the Trans Java toll road access, distribution and logistics activities are more dynamic because the travel time from the warehouse to the port is very short.

The current prospect of CNO is very promising because market demands are greater than supply. Countries that produce CNO derivative products such as the United States, the Netherlands, Germany, China, and others need supplies from coconut producing countries that are members of the Asia Pacific Coconut Community (APCC), of which Indonesia is included.

Therefore, IOP plans to open new markets in Thailand, Turkey, Middle East, and Europe and is currently preparing its permits.

“IOP itself targets the international market because the price is higher than the domestic market,” the information disclosure said.[]

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