M. P. Evans Group PLC Crop and production update (5619G)
20 Julho 2023 - 3:00AM
UK Regulatory
TIDMMPE
RNS Number : 5619G
M. P. Evans Group PLC
20 July 2023
M. P. EVANS GROUP PLC
("THE GROUP")
2023 H1 crop and production
M.P. Evans Group PLC, a producer of sustainable Indonesian palm
oil, is pleased to announce the following crop and production
information for the six months ended 30 June 2023.
Increase/
H1 2023 (decrease) H1 2022
Tonnes % Tonnes
Crop of fresh fruit bunches
("ffb")
Own crops 408,100 (5) 430,400
Scheme-smallholder crops 124,900 (1) 126,400
Independent crops purchased 188,100 26 148,900
--------- ------------ --------
721,100 2 705,700
========= ============ ========
Production*
Crude palm oil ("CPO") 166,200 3 160,800
Palm kernels ("PK") 34,600 (1) 35,100
========= ============ ========
*- figures include production from the Group's crop sold to
third-party mills.
The total crop of ffb processed by the Group in the first half
of 2023 was 2% higher than that processed in the same period of
2022. In the early part of the year, as has been the case in
previous years, the Group experienced some seasonality in the crop
recorded from its majority-owned areas and its associated scheme
smallholders, but compensated for this by purchasing more crop from
independent suppliers to process in its own mills. The Group
anticipates higher cropping levels as it moves into the second half
of the year. Production of CPO was up on the same period last year,
and the Group benefited from the opening of its mill at Musi Rawas
in February 2023.
In the period to the end of June 2023, the Group realised an
average CPO price at mill gate of US$755 per tonne compared with
US$1,035 in the first half of 2022, a decrease of 27%. Prices for
PK averaged US$410 per tonne (mill gate), lower than the US$830 per
tonne in 2022. Sales prices for both CPO and PK were exceptionally
high during the first half of 2022 as commodity markets responded
to the outbreak of war between Russia and Ukraine.
Enquiries:
M.P. Evans Group PLC Telephone: +44 (0) 1892 516333
Peter Hadsley-Chaplin, chairman
Matthew Coulson, chief executive
Luke Shaw, chief financial officer
Peel Hunt LLP (Nomad and joint Telephone: +44 (0) 20 7418 8900
broker)
Adrian Trimmings, Andrew Clark, Lalit Bose
finnCap (Joint broker) Telephone: +44 (0) 20 7220 0500
Tim Redfern, Harriet Ward
Hudson Sandler Telephone: +44 (0) 20 7796 4133
Charlie Jack, Amelia Craddock, Francis Kerrigan
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END
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