Crop and production update

RNS Number : 1972T

M. P. Evans Group PLC

21 July 2022

 

M. P. EVANS GROUP PLC

("THE GROUP")
2022 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 2022.

		H1 2022	Increase/  (decrease)	H1 2021
	Tonnes		%	Tonnes
Crop of fresh fruit bunches ("ffb")
Own crop	430,400		4	413,200
Scheme smallholder crop	126,400		5	120,900
Independent crops purchased	148,900		(11)	168,200
	705,700		-	702,300
Production*
Crude palm oil ("CPO")	160,800		-	161,400
Palm kernels ("PK")	35,100		1	34,700

* figures include production from the Group's crop sold to third-party mills.

After a seasonal, low-cropping period at the start of the year, crop from the Group's own areas and that of its associated scheme smallholders progressively increased in the first half of 2022. Purchases of independent crop were deliberately restricted in May and June as a result of the temporary export ban in Indonesia, resulting in a small reduction in purchases from outside suppliers in the first half. Overall, total crop processed was similar to that achieved in the first half of 2021. Production of CPO in the first half of 2022 was also similar to the same period of 2021, whilst there was a small increase in PK production.

In the period to the end of June 2022, the Group realised an average price at mill gate of US$1,035 per tonne compared with US$724 in the first half of 2021, an increase of 43%. Prices for palm kernels averaged US$830 per tonne (mill gate), higher than the US$491 per tonne in 2021.

Enquiries:

M.P. Evans Group PLC

Telephone: [phone]

Peter Hadsley-Chaplin, chairman
Matthew Coulson, chief executive

Peel Hunt LLP (Nomad and joint broker)

Telephone: [phone]

Dan Webster, Andrew Clark, Lalit Bose

finnCap (Joint broker)

Telephone: [phone]

Tim Redfern, Harriet Ward

Hudson Sandler

Telephone: [phone]

Charlie Jack, Francis Kerrigan

 

END

 

 

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