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Dekel Agri-Vision PLC - West Africa-based agriculture company - Produces less crude palm oil and palm kernel oil in the half-year but prices skyrocket. In the first six months of 2022, crude palm oil production falls 36% to 16,893 tonnes compared to 26,515 tonnes a year ago. Average crude palm oil price however increases 24% to €1,013 per tonne from €817.
Palm kernel oil production shrinks 25% to 1,162 tonnes from 1,554 tonnes a year ago. Average price however skyrockets 84% to €1,454 per tonne from €792 a year ago.
Lower amount of fresh fruit bunches are expected to be temporary, explains Dekel Executive Director Lincoln Moore: ‘Given the high levels of oil palm estates planted over the past 5 to 10 years in our region, we expect the current low levels of fresh fruit bunches volumes are a temporary agronomic variation.’ He adds: ‘Therefore, together with continued high prices, the palm oil operation is well-positioned to deliver a sustained period of operating profitability.’
Current stock price: 3.19 pence, up 1.3% on Monday
12-month change: down 34%
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