(Alliance News) - Dekel Agri-Vision PLC on Wednesday said crude palm oil sales and output significantly increased in April at its Ayenouan project in Ivory Coast, labelling its financial performance "a standout".
The West Africa-focused agricultural company said crude palm oil output multiplied to 6,179 tonnes in April from 2,965 tonnes in the equivalent period a year earlier.
Sales similarly more than doubled to 3,988 tonnes from 1,788 tonnes, offsetting the impact of average crude palm oil per tonne pricing falling to EUR976 from EUR1,061.
Dekel said its financial performance in April was "a standout" and "exceptional". It said this was primarily driven by two factors: "record-breaking" April monthly volumes of fresh fruit bunch and strong crude palm oil prices.
"We are pleased to see the palm oil operation's high season come to fruition, which began later than its usual schedule this year, culminating in a record monthly production outcome for April," said Executive Director Lincoln Moore.
"The production of crude palm oil has demonstrated continued strength in early May, compared to May last year. These positive trends bode well for the palm oil operation, positioning it to achieve an excellent period of production and financial performance throughout the second quarter of 2023."
Shares in Dekel were up 4.3% to 3.63 pence each in London on Wednesday afternoon.
By Greg Rosenvinge, Alliance News reporter
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Dekel Agri (DKL)