Source - LSE Regulatory
RNS Number : 8212H
M. P. Evans Group PLC
07 December 2020
 

M.P. EVANS GROUP PLC

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

 

INDONESIAN GOVERNMENT ANNOUNCES CHANGES TO EXPORT LEVY
 

M.P. Evans Group PLC, a producer of sustainable Indonesian palm oil, announces changes made by the Indonesian government to its palm-oil export levy which will take effect from 10 December 2020 (see Annex). These increases had been widely anticipated in the market for some weeks and reflected in contracts for crude palm oil ("CPO") struck by the Group. The structure of taxes in Indonesia affecting the palm-oil sector has been subject to change over recent years. The newly-announced tax increases the revenue available to the Indonesian government to implement its programme of boosting production and consumption of palm biodiesel. The board expects these changes will have only a very limited impact on the Group's 2020 results and that the longer-term prospects for the palm-oil sector and the Group remain positive.

 

 

7 December 2020

 

 

 

Enquiries:

M.P. Evans Group PLC

Telephone: 01892 516333

Peter Hadsley-Chaplin - Chairman

 

Tristan Price - Chief executive

 

Matthew Coulson - Finance director

 

 

 

Peel Hunt LLP (Nomad and joint broker)

Telephone: 020 7418 8900

Dan Webster

 

George Sellar

 

Andrew Clark

 

 

 

finnCap (Joint broker)

Telephone: 020 7220 0500

Tim Redfern

 

Chris Raggett

 

Sunila de Silva

 

 

 

Hudson Sandler (Communications consultants)

Telephone:  020 7796 4133

Charlie Jack

 

Elfie Kent

 

Francis Kerrigan

 

 

 

 

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

670

55

 

55

615

615

671

695

60

 

60

635

640

696

720

75

 

75

645

665

721

745

90

 

90

655

690

746

750

105

 

105

645

695

751

770

105

3

108

662

712

771

795

120

3

123

672

737

796

800

135

3

138

662

742

801

820

135

18

153

667

747

821

845

150

18

168

677

772

846

850

165

18

183

667

777

851

870

165

33

198

672

782

871

895

180

33

213

682

807

896

900

195

33

228

672

812

901

920

195

52

247

673

813

921

945

210

52

262

683

838

946

950

225

52

277

673

843

951

970

225

74

299

671

841

971

995

240

74

314

681

866

996

1,000

255

74

329

671

871

1,001

1,050

255

93

348

702

902

1,051

1,100

255

116

371

729

929

1,101

1,150

255

144

399

751

951

1,151

1,200

255

166

421

779

979

 

 

 

 

 

 

 

* Flat tariff of US$55 under prior structure.

 

 

 


 

 

 

 

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