Dekel Agri-Vision July crude palm oil production skyrockets
11.08.2023 (Market Screener) - (Alliance News) - Dekel Agri-Vision PLC on Thursday said that fresh fruit bunch volumes and crude palm oil production more than doubled in the month of July compared to a year ago.
The West Africa-focused agricultural company said crude palm oil production was higher in July at 2,231 tonnes from 929 tonnes a year prior, while CPO sales were upped to 5,623 tonnes from 1,247.
A higher CPO output results from increased inventory numbers during the first six months of the year due to a "strong late peak," Dekel Agri-Vision said.
The company added that 11,558 tonnes of fresh fruit bunch were processed in July, compared to 4,428 tonnes during the same period in 2022.
Meanwhile, CPO sales price increased by 2.1% to EUR814 per tonne from EUR797 in June.
Executive Director Lincoln Moore said: "The palm oil operation continues to perform very well, with production and sales volumes significantly ahead of 2022. With prices continuing to be historically strong, albeit lower than the super peak 2022 prices, we remain on track to deliver excellent financial outcomes from the palm oil operation in 2023."
Shares in Dekel Agri-Vision were up 1.5% at 3.40 pence each in London on Thursday afternoon.
By Sabrina Penty, Alliance News reporter
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