22nd Jul 2026 11:05
(Alliance News) - MP Evans Group PLC shares climbed on Wednesday as it reported higher production in the first half of 2026, and said crude palm oil prices "remained strong".
The Tunbridge Wells, England-based company, which produces palm oil in Indonesia, said the total crop of fresh fruit bunches harvested in the six months to the end of June climbed 14% to 705,400 tonnes from 619,100 tonnes a year prior.
After adding independently purchased crops, the total crop was 8.3% higher at 798,200 tonnes from 737,700 tonnes.
"The group has enjoyed crop increases across almost all its estates during the first half of the year, whilst at the same time benefiting from an encouraging yield from the areas acquired at Bumi Mas in the second half of last year," MP Evans said.
Crude palm oil production increased 11% to 192,300 tonnes from 172,800 tonnes, while palm kernels were up 11% at 42,100 tonnes from 37,9900 tonnes.
The firm said crude palm oil prices "remained strong" in the first half. It realised an average price at mill gate of USD873 per tonne, up 0.6% from USD868 in the first half of 2025.
Palm kernel pricing was "robust", as group sales averaged USD813 per tonne, up 8.8% from USD747.
Shares in MP Evans were up 7.6% at 1,820.05 pence on Wednesday morning in London.
By Michael Hennessey, Alliance News reporter
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