Business
Trading Statement
Trading Statement.
About this update from M.p. Evans Group Plc
[{"type":"text","content":"\n \n \n \n \n \n \n M.P. EVANS GROUP PLC\n \n \n \n (\"Group\" or \"M.P. Evans\")\n \n \n \n ANNUAL GENERAL MEETING\n \n \n \n The annual general meeting of M.P. Evans Group PLC, a producer of sustainable Indonesian palm oil, is being held at 12:00 pm in London today. Further details on the AGM, including a link to the live AGM webcast, can be found on the Group's website at\n \n www.mpevans.co.uk/investors/agm\n \n . The following statement is an update on trading conditions and progress on the Group's activities since the publication of the annual report in March.\n \n \n \n Crops\n \n \n \n The crop of fresh fruit bunches (\"ffb\") for the five months ended 31 May 2022 was 342,200 tonnes from estates controlled by the Group, almost exactly the same as the 342,100 tonnes recorded for the same period in 2021. Crops from the Group's associated scheme smallholders were 100,900 tonnes, again almost exactly the same as the 100,800 achieved in the same period in 2021.\n \n \n As reported in the 2021 AGM trading statement, crops from Group-controlled areas and scheme-smallholder areas had increased from the same period in the previous year by 24% and 43% respectively as harvests had improved significantly, particularly at Bangka and Kota Bangun. Due to a combination of the surge seen in early 2021, and normal changes in seasonal crop patterns, crops for the first five months of 2022 were in line with the same period last year. Overall, the Group's crops continue on an upward trend resulting from the young average age of the Group's plantations with yields increasing as they mature, and the Group anticipates reporting an overall crop increase in 2022.\n \n \n \n Production\n \n \n \n The Group produced the equivalent of 130,300 tonnes of crude palm oil (\"CPO\") during the first five months of 2022, including 114,600 tonnes processed through its own mills with the balance being the oil content of ffb sold by the Group to third-party mills. These figures are similar to the 132,400 tonnes of CPO produced in the first five months of 2021, but the production from the Group's own mills has increased by 9% from 2021 as the Group's new mill at Bumi Mas was operational throughout the period. The Group continues to achieve a good oil-extraction rate of 23.1%, albeit slightly lower than t...