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Market Cap: £820.20m

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MP Evans reports solid improvements in crops, production

Thu, 07th Jan 2021 13:49

(Sharecast News) - Indonesia-focussed palm oil producer MP Evans updated the market on its crops and production for 2020 on Thursday, reporting a 9% rise in its own crop to 724,300 tonnes of fresh fruit bunches.
The AIM-traded company said its scheme smallholder crops were up 12% to 193,000 tonnes of bunches, and independent smallholder crops were ahead 74% at 289,700 tonnes.

That made for a total crop in the year ended 31 December of 1.21 million tonnes of fresh fruit bunches, a rise of 21% year-on-year.

Looking at its production, MP Evans reported crude palm oil output of 271,000 tonnes, up 17% year-on-year, while its palm kernel production was 14% higher at 60,400 tonnes.

At 1019 GMT, shares in MP Evans Group were up 2.94% at 700p.