12th Aug 2024 12:59
Dekel Agri-Vision PLC - West Africa-focused agriculture project developer with a palm oil operation and a cashew processing plant in the Ivory Coast - Says its Ayenouan palm oil project "delivered another solid month" with crude palm oil production rising 6.6% in July to 2,379 tonnes from 2,231 tonnes in the same month last year. Sales however dropped 41% to 3,340 tonnes from 5,623 tonnes, while the average price decreased 4.4% to EUR778 per tonne from EUR814. The CPO extraction rate increased to 20.7% from 19.3%. Dekel says however that year to date CPO production met market expectations; prices remained "historically strong"; and decreased sales quantities were "purely [due to] a timing difference" with last year's peak having occurred later in the first half.
Executive Director Lincoln Moore says: "The palm oil operation continued its solid performance in 2024...With prices continuing to be historically strong and gradually increasing over recent months, we remain on track to deliver strong financial outcomes from the palm oil operation in 2024."
Current stock price: 1.16 pence, up 7.9% in London on Monday afternoon
12-month change: down 65%
By Emma Curzon, Alliance News reporter
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