2018 Performance

It’s ‘Lucky Legs 11’ for MPC growers with an 11th straight NIS bonus payment.
Announced by Chairman Chris Ford at the 2018 Christmas party, there will be an additional $0.40/kg payment for 2018 consignments.
This brings the final prices for 2018 to:

• Conventional NIS – $5.60/kg

• Organic – $6.90/kg

• Organic-in-conv. – $5.90/kg

All at 33% sound kernel recovery and 10% Moisture content.

This payment represents over $5 million in company profits being distributed back to growers and the result again cements MPC’s position as an industry leader in not only pricing, but all aspects of our business. Our performance overtime is shown below.

Season

Notional Price

Additional payment

Final Price

Dividend

2008

$1.60 $0.15 $1.75

2009

$2.25 $0.07 $2.32

2010

$2.55 $0.15 $2.70 $0.10

2011

$3.00 $0.30 $3.30 $0.15

2012

$3.10 $0.15 $3.25 $0.15

2013

$2.90 $0.15 $3.05 $0.25

2014

$3.50 $0.15 $3.65 $0.15

2015

$4.70 $0.30 $5.00 $0.25

2016

$5.20 $0.30 $5.50 $0.30

2017

$5.20 $0.30 $5.50 $0.30

2018

$5.20 $0.40 $5.60 $0.40

11 year average

$0.22

Total

$2.05

 

Despite a nervous start to the season following hail storms and a hit and miss nut set in some orchards most growers ended up pleasantly surprised with modest crops and higher than average sound kernel recovery. The sound kernel recovery is up by about 2% on the long term factory average, that equates to an extra $0.315 per kg of NIS above an average year.
With over 340 growers supplying in 2018 we were always going to see an increase in crop volume and I’m pleased to report that we have reached our 2nd largest crop at MPC with just under 13,000t delivered. This is the largest since PGM was established in Bundaberg with much of the Bundaberg crop being diverted to PGM since 2011. PGM is rapidly approaching MPC’s size with almost half of the Australian crop now processed between the 2 factories.