Crop and Production update

About this update from M.p. Evans Group Plc

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    

View stock analysis, news, and events for M.p. Evans Group Plc