7th Apr 2015 08:23
LONDON (Alliance News) - West Africa-focused palm oil producer DekelOil Public Ltd on Tuesday said it saw month-on-month growth in crude palm oil production from its Ayenouan project in the Ivory Coast in the first quarter.
DekelOil said its total production in the first quarter from the Ivory Coast site was 9,678 tonnes of crude palm oil and 1,603 tonnes of kernels, ahead of its expectations. It sold a total of 8,327 tonnes of crude palm oil in the first quarter an average sale price of EUR604 per tonne.
The company said it produced 2,168 tonnes of crude palm oil in January, rising to 3,158 tonnes in February and 4,352 tonnes in March. It also produced 373 tonnes of kernels in January, rising to 509 tonnes in February and 720 tonnes in March.
"The board believes that this significant increase in production positions the company for a very positive 2015, our first full year of operations at Ayenouan," said Executive Director Lincoln Moore.
Shares in DekelOil were down 1.7% to 0.86 pence on Tuesday, after having started trading higher at 1.00p.
By Sam Unsted; [email protected]; @SamUAtAlliance
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