t
M. P. Evans Group PLC announced its H1 2022 crop and production information for the six months ended 30 June 2022. Total fresh fruit bunch crop was 705,700 tonnes, with crude palm oil production at 160,800 tonnes and palm kernel production at 35,100 tonnes. The Group realised average prices of US$1,035 per tonne for crude palm oil, a 43% increase from H1 2021, and US$830 per tonne for palm kernels.
| Date | 21 Jul 2022 |
| Time | 07:00:06 |
| Category | Corporate updates |
| ID | 1972T |
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: +44 (0) 1892 516333 |
Peter Hadsley-Chaplin, chairman
Matthew Coulson, chief executive
|
Peel Hunt LLP (Nomad and joint broker) |
Telephone: +44 (0) 20 7418 8900 |
Dan Webster, 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, Francis Kerrigan