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DekelOil crude palm oil sales jump in Q3 despite fall in output

By BFN News | 09:00 AM | Thursday 10 October, 2019


DekelOil reported a rise in crude palm oil sales in the third quarter as excess inventory at the beginning of the quarter helped ease a fall in production. Crude palm oil (CPO) production fell to 4,803 tonnes in the third quarter, from 5,371 tonnes produced in the same period a year ago and sales were up 30.5%, driven in part by the sale of 3,000 tonnes of CPO stock held at the beginning of the quarter, the company said. CPO extraction rates were lower than in quarter from a year earlier, due to early harvesting by farmers looking to supplement their income during the low pricing environment, the company said. The average CPO price of €456 per tonne achieved in Q3 represented a 16.2% decrease on Q2 2019's €488, the company said, 'With 33,746 tonnes of CPO produced during the nine months to the end of September, full year production at Ayenouan was on track to return and likely exceed the levels we reported prior to 2018's anomalous peak harvest season,' the company said. At 9:00am: (LON:DKL) DekelOil Public Ltd share price was +0.05p at 2.1p Story provided by StockMarketWire.com

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