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Dekel Agri-Vision sees 'material' improvement in annual performance
StockMarketWire.com
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Agriculture company Dekel Agri-Vision said it expected annual performance for 2020 to be in-line with market expectations and show a material improvement on 2019 results.
For 2020, the produced 34,002 tonnes of crude palm oil, CPO, down from 37,649 tonnes year-on-year, amid a 23% increase in prices to €602 per tonne.
A 24% increase in Q4 CPO volumes compared to Q4 last year helped offset lower year on year production in H1, which was 'caused by a region-wide drop in FFB harvested during the peak harvest season,' the company said.
Palm kernel oil sales increased 153% in Q4 as stock on hand at H1 2020 continued to unwind.
Looking ahead, the company touted an ongoing improvement in performance.
'Together with the commencement of our high margin cashew project at Tiebissou, which remains on track for Q2 2021, we are confident that the year ahead will see a further material uplift in our financial performance,' the company said.
At 8:55am: (LON:DKL) DekelOil Public Ltd share price was 0p at 2.55p
Story provided by StockMarketWire.com
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