Source - Alliance News

Dekel Agri-Vision PLC - palm oil and cashew grower in West Africa - November fresh fruit bunches processed declines 44% year-on-year. Crude palm oil production down 43%, citing ‘unusually high’ production in November 2021, and CPO sales are down 2.7%. Average CPO price per tonnes improves by 9.1% to €1,043 from €956 a year prior.

Dekel Executive Director Lincoln Moore says: ‘We are optimistic that CPO prices will remain well above long term averages and the local market is hopeful we will see an improvement in high season volumes which sets up the Palm Oil Operation for a strong first half of 2023. The cashew operation is shaping up well and we are well set to see a material contribution from this operation also in H1 2023.’

Company notes: ‘European feedback following a customer roadshow in Rotterdam has been very positive. In particular, the high quality of Dekel’s product has been well noted and significant buyer interest was obtained for 2023 production.’

Current stock price: 3.08 pence each, down 8.2% on Friday

12-month change: down 39%

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