6th Jan 2016 09:10
LONDON (Alliance News) - DekelOil Public Ltd on Wednesday said its crude palm oil production more than doubled in 2015, and it expects to see production continue to grow in 2016 as it also ramps up production of palm kernel oil and palm kernel cake.
The company, which operates the Ayenouan palm oil project in the Ivory Coast, said that crude palm oil production from its 60 tonnes per hour extraction mill increased to 35,770 tonnes in its first full year of production, more than doubled from the 14,242 tonnes it produced in 2014.
The average price for crude palm oil per tonne fell 7% to EUR604 in 2015, from EUR647 in 2014.
Additionally, DekelOil began producing and selling palm kernel oil and palm kernel cake during 2015 at its recently commissioned kernel crushing plant.
"We are pleased with the on-going performance of the mill and the extraction rate being achieved and believe the current PKO extraction rate of 37.45% should also improve materially as the newly established kernel crushing operations stabilise in 2016," said Executive Director Lincoln Moore in a statement.
Shares in DekelOil were up 3.2% at 1.29 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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