RNS Number : 6122V
M. P. Evans Group PLC
11 August 2022
 

M.P. EVANS GROUP PLC

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

 

INDONESIAN GOVERNMENT ANNOUNCES REVISIONS TO EXPORT LEVY

M.P.Evans Group PLC, a producer of sustainable Indonesian palm oil, notes the announcement by the Indonesian government regarding changes to its palm-oil export tax bands, which are effective immediately. Previously, export tax became payable in increasing amounts based on US$50 price bands starting at CPO reference prices above US$750 per tonne. The export tax continues to be payable based on US$50 price bands, but this now starts at CPO reference prices above US$680 per tonne. The effect is to increase the export tax by up to US$74 per tonne depending on the CPO reference price. The CPO export levy, which has been temporarily cancelled until the start of September, remains unchanged from that announced by the Company on 19 July 2022, at which point it had decreased by up to US$90 per tonne from the previous arrangement, depending on the CPO reference price. Further details are shown in the tables in the annex to this announcement.

 

Management will continue to monitor the situation closely as the new arrangements come into force.

 

11 August 2022

 

 

 

Enquiries:

M.P. Evans Group PLC

Telephone: 01892 516333

Peter Hadsley-Chaplin - chairman


Matthew Coulson - chief executive




Peel Hunt LLP (Nomad and joint broker)

Telephone: 020 7418 8900

Dan Webster, Andrew Clark, Lalit Bose




finnCap (Joint broker)

Telephone: 020 7220 0500

Tim Redfern, Harriet Ward




Hudson Sandler (Financial PR)

Telephone:  020 7796 4133

Charlie Jack, Francis Kerrigan


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ANNEX

Table 1 - updated structure from 9 August 2022 to 31 August 2022

Reference price

 

 

 

Net price at top of

Net price under prior

From

To

 Levy

Tax

 Total

band

structure

0

680

-

-

-

680

680

681

730

-

3

3

727

730

731

780

-

18

18

762

777

781

830

-

33

33

797

812

831

880

-

52

52

828

847

881

930

-

74

74

856

878

931

980

-

124

124

856

906

981

1,030

-

148

148

882

906

1,031

1,080

-

178

178

902

932

1,081

1,130

-

201

201

929

952

1,131

1,180

-

220

220

960

979

1,181

1,230

-

240

240

990

1,010

1,231

1,280

-

250

250

1,030

1,040

1,281

1,330

-

260

260

1,070

1,080

1,331

1,380

-

270

270

1,110

1,120

1,381

1,430

-

280

280

1,150

1,160

1,431

and above

-

288

288


 

 

Table 2 - updated structure from 1 September 2022

Reference price

 

 

 

Net price at top of

Net price under prior

From

To

 Levy

Tax

 Total

band

structure

0

680

55

-

55

625

625

681

730

55

3

58

672

675

731

750

55

18

73

677

695

751

780

65

18

83

697

712

781

800

65

33

98

702

732

801

830

75

33

108

722

737

831

850

75

52

127

723

757

851

880

85

52

137

743

762

881

900

85

74

159

741

782

901

930

90

74

164

766

788

931

950

90

124

214

736

808

951

980

95

124

219

761

811

981

1,000

95

148

243

757

831

1,001

1,030

100

148

248

782

806

1,031

1,050

100

178

278

772

826

1,051

1,080

105

178

283

797

827

1,081

1,100

105

201

306

794

847

1,101

1,130

110

201

311

819

842

1,131

1,150

110

220

330

820

862

1,151

1,180

115

220

335

845

864

1,181

1,200

115

240

355

845

884

1,201

1,230

120

240

360

870

890

1,231

1,250

120

250

370

880

910

1,251

1,280

140

250

390

890

900

1,281

1,300

140

260

400

900

920

1,301

1,330

160

260

420

910

920

1,331

1,350

160

270

430

920

940

1,351

1,380

180

270

450

930

940

1,381

1,400

180

280

460

940

960

1,401

1,430

200

280

480

950

960

1,431

and above

200

288

488


 

 

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