Dekel set to end year strong at Ayenouan palm oil project

West African agriculture company Dekel Agri-Vision updated the market on production at its Ayenouan palm oil project on Thursday, reporting a 74.4% year-on-year increase in November - the highest monthly like for like uplift in production for the year thus far.

The AIM-traded firm said crude palm oil prices remained “strong”, with average prices achieved in November of €956 - an uplift of 44% compared to November last year.

Dekel said it was currently on track to deliver a record year of annual revenue for the palm oil operation.

“The Ayenouan Project will finish the year with continued strong momentum,” said executive director Lincoln Moore.

“The company is heavily focused on preparations - including the annual maintenance programme - for the high season production ramp-up that is just six weeks away, in order to capitalise on sales prices which are currently higher than the levels we achieved in the 2021 high season.”

At 1332 GMT, shares in Dekel Agri-Vision were down 5.38% at 4.92p.