LONDON (Thomson Financial) - MP Evans Group PLC said it expects to plant a
t least 4,000 hectares this year on new Indonesian oil-palm projects and that it is enjoying the full benefit of the current 'robust' palm oil prices of about 850 usd per tonne.
The prices are the highest in many years and represent an increase of over 100 usd per tonne since the company's 2006 results, MP Evans said in a statement.
The company intends to plant another 1,500 hectares on Bangka before the end of this year, in addition to the 2,000 hectares that have already been planted.
On Kalimantan, 2,500 hectares have been prepared and planted with cover crops, ready for oil palms to be planted later in the year, it said.
MP Evans said the crops of oil-palm fresh fruit bunches (FFB) from the majority owned estates, in both Indonesia and Malaysia, up to the end of May were down at 60,000 tonnes, compared with 84,600 tonnes for the same period last year.
About 14,500 tonnes from three Malaysia estates have since been sold, while the crops from the Indonesian estates were lower as a result of a downturn in the cropping cycle, the company added.
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