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Dekel Agri-Vision PLC - West Africa-based agriculture company - Says crude palm oil output in May falls 36% annually to 2,167 tonnes from 3,403 tonnes. Sales jump to 4,025 tonnes from 1,071, however. Price per tonne also improves to €1,056 from €774 a year earlier. ‘The recent trend of very strong crude palm oil and palm kernel oil prices and exceptionally strong CPO extraction rates offset by weak fresh fruit bunches volumes continued in May,’ Dekel says. Dekel also updates on its cashew project in Ivory Coast. Dekel says a colour sorter arrived on Sunday, enabling company to ‘significantly increase production capacity once installed’.
Dekel adds: ‘The arrival of the colour sorter together with the utilisation of the shelling machines the company already has on site should see production materially increase to over 50%. The first 11 of the 15 shelling machines are assembled and are expected to be delivered to the port in Italy shortly. Even if there are delays, we have sufficient substitute shelling machines on site that we purchased in case of this issue so this shipment should not present a significant bottleneck to the ramp up of production.’
Current stock price: 3.61 pence, up 3.3%
12-month change: down 27%
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