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M. P. Evans Group PLC announced its H1 2024 crop and production data for the six months ended 30 June 2024. Total fresh fruit bunches processed increased by 5% to 759,700 tonnes, while Crude Palm Oil (CPO) production rose 6% to 177,000 tonnes and Palm Kernels (PK) production increased 13% to 39,200 tonnes compared to H1 2023. The Group also reported average mill gate prices of US$771 per tonne for CPO, a 2% increase, and US$437 per tonne for PK, a 7% increase, over the same period in 2023.
| Date | 24 Jul 2024 |
| Time | 07:00:02 |
| Category | Corporate updates |
| ID | 5201X |
M. P. EVANS GROUP PLC
("THE GROUP")
2024 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 2024.
|
|
H1 2024 |
Increase |
H1 2023 |
|
|
|
Tonnes |
% |
Tonnes |
|
|
Crop of fresh fruit bunches ("ffb") |
|
|
|
|
|
Own crops |
437,900 |
7 |
408,100 |
|
|
Scheme-smallholder crops |
128,300 |
3 |
124,900 |
|
|
Independent crops purchased |
193,500 |
3 |
188,100 |
|
|
|
759,700 |
5 |
721,100 |
|
|
|
|
|
|
|
|
Production* |
|
|
|
|
|
Crude palm oil ("CPO") |
177,000 |
6 |
166,200 |
|
|
Palm kernels ("PK") |
39,200 |
13 |
34,600 |
|
*- 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 2024 was 5% higher than that processed in the same period of 2023. The Group's estate at Kota Bangun in East Kalimantan performed particularly well in the early part of the year and, in addition, the Group is benefiting from an increasing crop from the areas acquired during 2023. Some of the Group's other estates experienced a slower start in 2024, as was the case last year, but the Group expects higher cropping levels in the second half. Average extraction rates for both CPO and PK are up on the first half of 2023, with almost all crop processed in the Group's mills.
In the period to the end of June 2024, the Group realised an average CPO price at mill gate of US$771 per tonne compared with US$755 in the first half of 2023, an increase of 2%. Prices for PK averaged US$437 per tonne (mill gate), 7% higher than the US$410 per tonne in 2023.
Enquiries:
|
M.P. Evans Group PLC |
Telephone: +44 (0) 1892 516333 |
Peter Hadsley-Chaplin, chairman
Matthew Coulson, chief executive
Luke Shaw, chief financial officer
|
Cavendish Capital Markets (Nomad and broker) |
Telephone: +44 (0) 20 7220 0500 |
Matt Goode, George Lawson (Corporate Finance)
Tim Redfern, Harriet Ward (ECM)
|
Hudson Sandler (Financial PR) |
Telephone: +44 (0) 20 7796 4133 |
Charlie Jack, Charlotte Cobb, Francis Kerrigan