Company Announcements

CPO Export levy update

Source: RNS
RNS Number : 7440D
M. P. Evans Group PLC
01 July 2021
 

M.P. EVANS GROUP PLC

("the Group" or "M.P.Evans")

 

INDONESIAN GOVERNMENT ANNOUNCES UPDATES TO EXPORT LEVY

M.P.Evans Group PLC, a producer of sustainable Indonesian palm oil, announces updates made by the Indonesian government to its palm-oil export levy which will take effect from 2 July 2021 (see Annex). These updates result in a reduction in the export levy of up to US$100 per tonne, dependent on the reference price of crude palm oil ("CPO") used. Whilst these updates are expected to have a positive impact on the Group's ex-mill-gate CPO pricing in the second half of 2021, it is not yet clear to what extent current pricing had already anticipated the updates and to what extent producers will see further pricing benefits. As reported in the recent trading statement, the board remains confident in the Group's ability to deliver crop growth, improving results, and a rising dividend.

 

 

1 July 2021

 

 

 

Enquiries:

M.P. Evans Group PLC

Telephone: 01892 516333

Peter Hadsley-Chaplin - chairman


Tristan Price - chief executive


Matthew Coulson - finance director




Peel Hunt LLP

Telephone: 020 7418 8900

Dan Webster


Andrew Clark




finnCap

Telephone: 020 7220 0500

Tim Redfern


Chris Raggett




Hudson Sandler

Telephone:  020 7796 4133

Charlie Jack


Elfie Kent


 

 

 

ANNEX

 

COMBINED INDONESIAN EXPORT LEVY AND EXPORT TAX

(US$ per tonne of crude palm oil)

From

To

 Levy

Tax

 Total

Net price at
 top of band

Net price under prior structure

0

750

55


55

695

645

751

800

75

3

78

722

662

801

850

95

18

113

737

667

851

900

115

33

148

752

672

901

950

135

52

187

763

673

951

1,000

155

74

229

771

671

1,001

1,050

175

93

268

782

702

1,051

1,100

175

116

291

809

729

1,101

1,150

175

144

319

831

751

1,151

1,200

175

166

341

859

779

 

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