10th Nov 2023 14:20
Dekel Agri-Vision PLC - West Africa-focused agricultural company - At Ayenouan palm oil project in Ivory Coast, number of processed fresh fruit bunches grows 16% year-on-year in October to 8,886 tonnes from 7,661 tonnes a year prior. Crude palm oil production climbs 2.8% to 1,723 tonnes from 1,677 tonnes. Average CPO price per tonne however falls 26% to EUR788 from EUR1,057. Further, CPO sales decrease by 5.4% to 1,483 tonnes from 1,567 tonnes. Palm kernel oil production increases 15% to 150 tonnes from 131 tonnes. Average PKO sales price drops 27% to EUR838 per tonne from EUR1,151. PKO sales fall 12% to 199 tonnes from 225 tonnes.
Executive Director Lincoln Moore says: "With two months left in 2023 and a strong start to November, the palm oil operation remains well on track to exceed CPO production, revenue and earnings before interest, tax, depreciation and amortisation compared to 2022 and we look forward to reporting a strong finish to the year."
Current stock price: 2.18 pence, down 2.9% on Friday
12-month change: down 30%
By Tom Budszus, Alliance News reporter
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