FGV Annual Integrated Report 2019

59 ANNUAL INTEGRATED REPORT 2019 03 S E C T I O N BUSINESS PERFORMANCE MANAGEMENT DISCUSSION & ANALYSIS STATEMENTS AND ANALYSIS 1.91 Million Units SEEDLINGS The lower seedling sales volume in 2019 against 2018 was mainly attributed to the lower average CPO price in 2019 that reduced the national seedling demand. The effect was the same as seen for oil palm seeds. 18.08 Million Units SEEDS In 2019, we sold 18.08 million units of Yangambi seeds to domestic and international markets, a decrease from the 19.70 million units sold in 2018. The lower volume was mainly attributable to the lower average CPO price in 2019 that reduced national seed demand by nearly 20% compared to 2018. 0.27 Million Boxes RAT BAIT Our rat bait business is represented by our BUTIK product. In the period under review, we recorded sales of 0.27 million boxes, a slight decrease compared to the 0.30 million sold in 2018. This was mainly due to postponement of replanting programmes and cost cutting by our key customers in 2019. 0.61 Million MT FERTILISER In the fertiliser segment, we registered fertiliser sales of 0.61 million MT in 2019, a slight increase from the 0.60 million MT in 2018. The rise in fertiliser sales was due to an overall increase in sales to our dealers, manufacturers and retail segments. 0.22 Million Units RAMETS There was a reduction of palm oil ramet sales due to the postponement of replanting by plantation companies nationwide. For details on the R&D Division’s value-creation activities, outcomes, awards and outlook & prospects, please refer to Intellectual Capital on pages 64-67 of this report.