Production and hectarage on the up for Kent palm oil business M.P. Evans

Published by

Daniel Face

M.P. Evans Group, a Kent-based producer of sustainable Indonesian palm oil, has shared promising figures for the year ended 31st December 2023.

Production of crude palm oil (CPO) was up 11 per cent from 2022 at 378,500 tonnes, while palm kernel production rose 9 per cent to 80,600 tonnes.

The group enjoyed unusually high pricing for CPO in 2022 which has since flattened out to £575 per tonne, around 15 per cent lower than before.

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But this hasn’t dampened cash inflows, as the company was able to add another 10,000 planted hectares to its portfolio and pay out more than £22m in dividends over the past year.

Peter Hadsley-Chaplin, chairman of M.P. Evans, said: “The group made another stride forward in 2023, with crop and production both increasing.

“Importantly, following a period of significant investment, almost all crops are now processed in group milling facilities.

“We’re starting to see the benefits in increasing extraction rates, and this will provide further support to what will be a strong result for 2023.

“Looking to the future, the group has delivered on its stated aim of adding further hectarage close to its existing projects, which will support further growth into 2024 and beyond.”

Daniel Face

Born and raised in Berkshire, Dan fell into journalism after completing his bachelor’s degree in English at UCL. Writing for The Business Magazine and local Biz News sites has given him the opportunity to chat with all manner of small business owners and share their success stories with a wider audience. Outside of work, Dan enjoys live music, board games and quiz shows, and is making a slow but persistent effort to learn Spanish.