Dekel Ivory Coast palm oil output up year-on-year in May, down monthly

(Alliance News) - Dekel Agri-Vision PLC on Monday reported an annual increase in its production of crude palm oil and palm kernel oil at its Ayenouan palm oil project in Ivory Coast in May.

The West Africa-focused agricultural company said crude palm oil output surged to 5,306 tonnes in May from 2,167 tonnes a year prior, but fell 14% from 6,179 tonnes in April. The average CPO price fell 9.8% annually in May to EUR953 per tonne from EUR1,056 a year ago and was down 2.4% from EUR976 in April.

Palm kernel oil production jumped 94% to 320 tonnes from 165 tonnes a year ago but fell 16% from 382 tonnes in April.

The production of fresh fruit bunches surged to 24,301 tonnes from 9,207 tonnes annually in May, but was 16% lower than 28,846 tonnes in April.

Executive Director Lincoln Moore said: "Whilst CPO prices have softened from near record levels, the current prices remain historically strong and we continue to achieve a local premium to international prices. Overall, the palm oil operation remains well positioned to deliver an excellent H1 2023 outcome ."

Dekel Agri-Vision shares rose 2.9% to 3.50 pence each on Monday afternoon in London.

By Tom Budszus, Alliance News reporter

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