Crop and Production update
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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.
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