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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 $87 per tonne. The government will then introduce a $200 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 $47 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 $750 per tonne, the company adds.
Current stock price: 907.06 pence, down 7.6% in London on Tuesday
12-month change: up 23%
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