M. P. Evans Group PLC update (8212H)
08 December 2020 - 3:36AM
UK Regulatory
TIDMMPE
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 Telephone: 020 7418 8900
broker)
Dan Webster
George Sellar
Andrew Clark
finnCap (Joint broker) Telephone: 020 7220 0500
Tim Redfern
Chris Raggett
Sunila de Silva
Hudson Sandler (Communications Telephone: 020 7796 4133
consultants)
Charlie Jack
Elfie Kent
Francis Kerrigan
ANNEX
COMBINED INDONESIAN EXPORT LEVY AND EXPORT TAX
(US$ per tonne of crude palm oil)
Net price
at Net price
top of under prior
From To Levy* Tax Total band 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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END
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