Source - Alliance News

Dekel Agri-Vision PLC on Friday said crude palm oil and palm kernel production soared in the month of August compared to a year ago.

The West Africa-focused agricultural company said crude palm oil production at its Ayenouan palm oil project in Ivory Coast was 38% higher in August at 1,416 tonnes from 1,024 tonnes a year prior, while CPO sales were up 56% to 1,786 tonnes from 1,148.

Palm kernel oil production tripled to 185 tonnes in August from 90 during the same month the year before. PKO sales multiplied to 815 tonnes from 67 a year ago, which reflects the ‘unwinding of higher than normal inventory numbers at the end of [the first half of 2023] resulting from the strong late peak to the recent production high season,’ Dekel Agri-Vision said.

Executive Director Lincoln Moore said: ‘We are pleased to record our 6th consecutive month of stronger CPO production compared to last year. Together with strong CPO and PKO sales volumes, the palm oil operation monthly financial performance during [the second half of 2023] continues to track well ahead of [the second half of 2022].’

Shares in Dekel Agri-Vision were up 3.7% at 3.11 pence each in London on Friday morning.

Copyright 2023 Alliance News Ltd. All Rights Reserved.

Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account. AJ Bell logo

Related Charts

Dekel Agri-Vision PLC (DKL)

0p (0.00%)
delayed 15:57PM