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Although rubber prices continued to soar in the first quarter of 2021, the turnover of SAPH, a subsidiary of the Côte d’Ivoire SIFCA Group’s rubber business, fell by 6% year-on-year to 42.
236 billion francs (approximately 64.
5 million euros), and net profit fell 39% to 15.
06 Billion francs
.
SAPH said that although machine processing and production remained unchanged, the decline in sales led to a decline in turnover
.
The reason for the decline in sales was due to the shipping company’s loading problems, which resulted in delayed shipments
.
SAPH pointed out that since the second half of 2020, the upward trend of world rubber prices continued in the first quarter of 2021.
The average price in the first quarter was US$1.
662 per kilogram, which was much higher than the US$1.
3176 per kilogram in the same period in 2020
.
However, market uncertainty still exists, and we need to be cautious about the 2021 results
.
Note: The main share of Côte d’Ivoire rubber is always occupied by three companies: SAPH, SOGB, TRCI
.
SAPH is a subsidiary of the SIFCA Group of Cote d'Ivoire engaged in rubber business.
It not only has rubber plantations, but also purchases rubber from small farmers, accounting for 44% of the country's total rubber share
.
The remaining two, SOGB, which is controlled by Belgium and TRCI, which is controlled by Singapore’s GMG, each account for about 20% of the share, while some other companies and small-scale enterprises account for the remaining 15%
.
236 billion francs (approximately 64.
5 million euros), and net profit fell 39% to 15.
06 Billion francs
.
SAPH said that although machine processing and production remained unchanged, the decline in sales led to a decline in turnover
.
The reason for the decline in sales was due to the shipping company’s loading problems, which resulted in delayed shipments
.
SAPH pointed out that since the second half of 2020, the upward trend of world rubber prices continued in the first quarter of 2021.
The average price in the first quarter was US$1.
662 per kilogram, which was much higher than the US$1.
3176 per kilogram in the same period in 2020
.
However, market uncertainty still exists, and we need to be cautious about the 2021 results
.
Note: The main share of Côte d’Ivoire rubber is always occupied by three companies: SAPH, SOGB, TRCI
.
SAPH is a subsidiary of the SIFCA Group of Cote d'Ivoire engaged in rubber business.
It not only has rubber plantations, but also purchases rubber from small farmers, accounting for 44% of the country's total rubber share
.
The remaining two, SOGB, which is controlled by Belgium and TRCI, which is controlled by Singapore’s GMG, each account for about 20% of the share, while some other companies and small-scale enterprises account for the remaining 15%
.
