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11 Aug 2022 07:00
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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