MP Evans Group PLC - producer of Indonesian palm oil - Notes recent announcements by the Indonesian government regarding revision to its palm-oil export duty and levy. The set of first revisions, effective from June 14 to July 31, result in a decrease in the combined duty and levy payable of up to USD87 per tonne. The government will then introduce a USD200 per tonne export tariff until July 31. After then, a second set of revisions will be introduced. This will result in a decrease of up to USD47 per tonne in combined export duty and levy compared to that paid on June 14.
Following the government's revisions to the export duty and levy, recent mill-gate prices achieved have been around USD750 per tonne, the company adds.
Current stock price: 907.06 pence, down 7.6% in London on Tuesday
12-month change: up 23%
By Heather Rydings; heatherrydings@alliancenews.com
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M P Evans (MPE)