MP Evans Group PLC (AIM:MPE), the sustainable palm oil producer, said the total crops processed in the first half of 2024 rose by 5% over the same period in 2023.
Kota Bangun in East Kalimantan performed particularly well in the early part of the year, said the statement, while there was an increasing crop from the areas acquired during 2023.
Some of the group's other estates experienced a slower start in 2024, though higher cropping levels are expected in the second half.
Total processing in the six months to the end of June 2024 amounted to 759,700 fresh fruit bunches, with 177,000 tonnes of CPO and 39,200 tonnes of PK produced.
Average extraction rates for both CPO (crude palm oil) and PK (palm kernel) were above the first half of 2023, with almost all crops processed in the group's mills, the statement added.
CPO prices at the mill gate averaged US$771 per tonne, up 2% on the first half of 2023, while PK averaged US$437 per tonne (mill gate), or 7% higher.