MP Evans rises on lifting of Indonesian palm oil export ban
Palm oil producer MP Evans confirmed on Monday that the Indonesian government has announced plans to remove its palm oil export ban from 23 May.
The AIM-traded firm said the Indonesian government introduced a temporary ban from 28 April.
It said it had continued to harvest at all of its estates, with operations at its palm oil mills continuing without interruption since the ban was introduced.
“Some dispatches to local refiners have taken place over the last three weeks, and the group expects a full programme of tenders and sales to resume,” the board said in its statement.
“The directors will continue to monitor the situation and will provide further updates if required.”
At 1151 BST, shares in MP Evans Group were up 4.25% at 1,000.76p.
Reporting by Josh White at Sharecast.com.