6th Oct 2015 09:23
LONDON (Alliance News) - DekelOil PLC on Tuesday said it has produced twice as much crude palm oil in the first nine months of 2015 as it did in the whole of 2014.
DekelOil operates and owns a 51% interest in the Ayenouan palm oil project in Ivory Coast. It reported 7,301 tonnes of crude palm oil during the quarter to end-September, and 1,336 tonnes of kernel. It said this was more than doubled on a like-for-like basis compared to the same period in the previous year.
It did not provide a comparative figure, or how it defines like-for-like.
This takes its total production for the nine months to 29,137 tonnes of crude palm oil and 5,069 tonnes or kernels.
During the quarter it sold 9,814 tonnes of palm oil at an average price of EUR610 per tonne, which it said was a "significant premium" to the current international crude palm oil price.
"We expect the strong momentum behind our project at Ayenouan to continue to build in line with our strategy to increase CPO production towards the Mill's 70,000 tonnes per annum capacity, through the delivery of additional fresh fruit bunches from our own plantations as well as our local collection network of smallholders and logistics centres," said Executive Director Lincoln Moore in a statement.
"Progress with our kernel crushing plant is on time and on budget and we look forward to commissioning in Q4 2015," Moore added,
Shares in DekelOil were down 0.5% at 0.970 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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