7th Dec 2020 18:27
MP Evans Group PLC - producer of sustainable Indonesian palm oil - Says Indonesian government makes changes to its palm oil export levy, effective from Thursday.
"These increases had been widely anticipated in the market for some weeks and reflected in contracts for crude palm oil struck by the group," MP Evans notes.
Says the newly-announced tax increases the revenue available to the Indonesian government to implement its programme of "boosting production and consumption" of palm biodiesel.
MP Evans expects changes will have only "very limited" impact on the company's 2020 results and the longer-term prospects for both the palm oil sector and the group remain positive.
Current stock price: 640.00 pence
Year-to-date change: down 12%
By Lucy Heming;Â [email protected]
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