Business
Trading Update
Trading Update.
About this update from R.e.a. Holdings Plc
[{"type":"text","content":"\n \n\n\nR.E.A. Holdings plc (RE.)\n\n\n\nR.E.A. Holdings plc: Trading Update10-Jun-2021 / 09:45 GMT/BSTDissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.The issuer is solely responsible for the content of this announcement.\n\n\nR.E.A. Holdings plc (\"REA\" or the \"company\") - Trading update June 2021\n\n \n\nKey agricultural statistics for the 5 months to 31 May 2021 (with comparative figures for 2020) were as follows: \n\n\n \n \n \n 2021\n \n \n 2020\n \n \n FFB crops (tonnes):\n \n \n \n \n \n \n \n \n Group harvested\n \n \n 303,340\n \n \n 288,631\n \n \n Third party harvested\n \n \n 95,660\n \n \n 81,459\n \n \n Total\n \n \n 399,000\n \n \n 370,090\n \n \n \n \n \n \n \n \n \n \n \n Production (tonnes):\n \n \n \n \n \n \n \n \n Total FFB processed\n \n \n 393,902\n \n \n 361,568\n \n \n CPO\n \n \n 87,295\n \n \n 83,353\n \n \n Palm kernels\n \n \n 18,565\n \n \n 18,044\n \n \n CPKO\n \n \n 6,876\n \n \n 5,447\n \n \n \n \n \n \n \n \n \n \n \n Extraction rates (percentage):\n \n \n \n \n \n \n \n \n CPO\n \n \n 22.2\n \n \n 23.1\n \n \n Palm kernel\n \n \n 4.7\n \n \n 5.0\n \n \n CPKO\n \n \n 38.5\n \n \n 39.8\n \n \n \n \n \n \n \n \n \n \n \n Rainfall (mm):\n \n \n \n \n \n \n \n \n Average across the estates\n \n \n 1,624\n \n \n 1,300\n \n \n\nAs noted in the annual report for the year ended 31 December 2020, published on 27 April 2021, the impact of Covid-19 on the group's operations has been limited and continues to be so. Despite high rainfall and the end of Ramadan holiday period falling early in 2021, production since the start of 2021 has been at good levels, with the typical year end peak crop period extending into the first few months of the year. \n\n \n\nClose focus on harvesting standards, backed by a range of measures including realignment of financial incentives to improve loose fruit recovery, has started to pay off resulting in a marked improvement in extraction rates to over 23 per cent for CPO in May. With contractors and spare parts now more readily available, the modification and expansion works to the group's mills are proceeding satisfactorily to complet...