StockMarketWire.com - Agriculture company Dekel Agri-Vision said it expected to make a profit in the month of May as higher palm oil prices offset a fall in production at its Ayenouan project in Ivory Coast.

Crude palm oil production fell 38% to 3,316 tonnes amid a 17% rise in the average price per tonne to €541.

The fall in production followed a drop-off in fresh fruit bunches delivered to a mill for processing in the second half of the month, in line with the experience of other operators in the region.

'It is currently the back end of the high season and Dekel continues to see lower fresh fruit bunch volumes but materially higher levels of fruit quality and as a result extraction rates are reaching near record levels up to 24%, particularly in late May and early June,' the company said.

Early guidance for June 2020 was fresh fruit bunch levels remaining 15-20% lower on-year, but extraction rates continuing to be much higher than normal for the month of June.


At 2:46pm: [LON:DKL] DekelOil Public Ltd share price was -0.1p at 2.45p



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