Interim statement of the SIPEF group per 30 September 2026
Strong momentum puts SIPEF on track for another record year
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SIPEF recorded crude palm oil (CPO) production of 136 927 tonnes in the third quarter of 2026, an increase of 16.5% compared with the third quarter of 2025. Over the first nine months of the year, CPO production increased by 10.4% to 359 357 tonnes.
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The increase was driven by strong production growth in Indonesia, where CPO production rose by 21.3% in the third quarter and by 13.7% over the first nine months of the year. Papua New Guinea also contributed positively, with CPO production increasing by 5.6% in the third quarter and by 3.7% over the first nine months.
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Banana production continued to grow, increasing by 7.9% in the third quarter and by 8.9% over the first nine months of 2026, to 42 059 tonnes.
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Palm oil prices remained at strong levels during the third quarter. Benchmark CPO futures increased from approximately USD 1 100 per tonne at the start of the quarter to USD 1 250 per tonne at the end of August, before correcting to approximately USD 1 120 per tonne in September.
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The palm oil market outlook remains robust for the fourth quarter of 2026 and throughout 2027. Elevated inventories provide a temporary buffer, while the developing El Niño, biodiesel demand, and geopolitical uncertainty continue to support the medium-term outlook.
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Full-year CPO production is expected to come in around 470 000 tonnes, with potential upside subject to weather and operational conditions during the final quarter.
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SIPEF completed the acquisition of the Tiabam banana plantation in Côte d’Ivoire on 30 September 2026, adding approximately 320 producing hectares adjacent to its existing Akoudjé plantation and 12 000 – 14 000 tonnes of annual banana production.
- SIPEF has contracted 86% of its budgeted 2026 palm oil volumes at an average ex-mill gate price of USD 997 per tonne compared with 84% at USD 961 per tonne over the same period last year.
- Supported by strong production volumes and favourable selling prices, the recurring result, share of the Group, is expected to range between USD 140 million and USD 150 million for 2026, setting a new record.
- The Group remains on course to finish 2026 with a net financial position of approximately USD 130 to 150 million, while executing its investment programme of USD 90 to 100 million.
- Plantations J. Eglin renews GLOBALG.A.P. and Fairtrade banana production certifications.