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(Sharecast News) - Indonesian palm oil producer MP Evans announced updates made by the Indonesian government to its palm-oil export levy on Thursday, which will take effect from 2 July.
The AIM-traded firm said the updates would result in a reduction in the export levy of up to $100 (£72.49) per tonne, depending on the reference price of crude palm oil used.
It said that, while the updates were expected to have a positive impact on its ex-mill-gate crude palm oil pricing in the second half of 2021, it was not yet clear to what extent current pricing had already anticipated the updates, and to what extent producers would see further pricing benefits.
"As reported in the recent trading statement, the board remains confident in the group's ability to deliver crop growth, improving results, and a rising dividend," the board said in its statement.
At 0813 BST, shares in MP Evans were up 1.81% at 732p.
14 Jun 2016 15:02