R.E.A. Holdings plc: Further re selling prices (1379343)
2022年6月20日 - 6:51PM
RNSを含む英国規制内ニュース (英語)
R.E.A. Holdings plc (RE.) R.E.A. Holdings plc: Further re
selling prices 20-Jun-2022 / 10:51 GMT/BST Dissemination of a
Regulatory Announcement, transmitted by EQS Group. The issuer is
solely responsible for the content of this announcement.
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R.E.A. Holdings plc ("REA" or the "company")
Further re selling prices
Further to the company's announcement in May 2022 regarding
selling prices for crude palm oil ("CPO") and crude palm kernel oil
("CPKO"), the Indonesian government has published a change to the
export duty structure with effect from 10 June 2022. There has been
no change to the export levy structure.
REA sells CPO into the local Indonesian market which is not
subject to export levy or export duty. However, arbitrage between
the Indonesian and international CPO markets normally results in a
local price that is broadly in line with prevailing international
prices after adjustment of the latter for delivery costs and export
tariffs and restrictions. Changes to export tariffs and
restrictions therefore have an indirect effect on the prices that
REA achieves on sales of its CPO
Export tariffs comprise export duty and export levy. Both are
calculated on a sliding scale by reference to a CPO reference price
that is set periodically by the Indonesian government on the basis
of CIF Rotterdam and other recognised benchmark CPO prices. The
export tariffs applicable from 10 June 2022 are set out below. The
incremental export duty for CPO and CPKO have not changed up to a
reference price of less than USD1,000 per tonne but have increased
from a reference price of more than USD1,000 per tonne from the
previous rules.
The CPO reference price is USD1,700 per tonne for June and is
expected to be USD1,646 per tonne from July 2022 which, being above
USD1,500 per tonne, will result in total export tariffs of USD663
per tonne. This represents an increase of USD88 per tonne from the
total export tariffs that were payable under the previous
rules.
The domestic market obligation ("DMO") was re-introduced in June
at a factor of 1:5 local to export. In order to obtain an export
permit exporters are required to prove, through online government
systems, that their DMO has been complied with. These processes
have been slower than anticipated which has led to high domestic
stocks of palm oil and its derivatives. The government has
subsequently introduced an export mechanism for the acceleration of
distribution to optimise and stabilise the production of palm oil
that involves paying an additonal duty of USD200 per tonne which
waives the DMO rules for exporters. This waiver program is valid
until the 31 July 2022.
Combined export levy and export duty (before DMO waiver duty)
applicable from 10 June 2022
CPO reference price
From To Levy Duty Total Net price*
USD USD USD USD USD USD
- 750 55 - 55 695
751 800 75 3 78 722
801 850 95 18 113 737
851 900 115 33 148 752
901 950 135 52 187 763
951 1,000 155 74 229 771
1,001 1,050 175 124 268 751
1,051 1,100 195 148 311 757
1,101 1,150 215 178 359 757
1,151 1,200 235 201 401 764
1,201 1,250 255 220 438 775
1,251 1,300 275 240 475 785
1,301 1,350 295 250 495 805
1,351 1,400 315 260 515 825
1,401 1,450 335 270 535 845
1,451 1,500 355 280 555 865
1,501 1,550 375 288 575 887
*At top of band
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ISIN: GB0002349065
Category Code: MSCM
TIDM: RE.
LEI Code: 213800YXL94R94RYG150
Sequence No.: 169455
EQS News ID: 1379343
End of Announcement EQS News Service
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