Dekeloil Public issues Q3 production update

DekelOil Public Ltd has issued a production and sales update for the quarter ended 30 September 2016.

Q3 2016 production and sales figures were for Crude Palm Oil (CPO), Palm Kernel Oil (PKO) and Palm Kernel Cake (PKC).

HIGHLIGHTS:

- Production for the nine months to 30 September 2016 totals 34,323 tonnes of CPO and 2,520 tonnes of PKO compared to 29,137 tonnes of CPO in the comparable nine month period in 2015

- The earlier start and finish of this year's peak harvesting season and unseasonally drier weather during the low production season has resulted in lower Q3 2016 CPO production and extraction rate compared to Q3 2015

- On track to reach full year 2016 production targets - October 2016 has to date seen a pick-up in volumes of fresh fruit bunches collected for processing

- 13% increase in CPO sales prices in Q3 2016 compared to H1 2016 - stock carried through Q2 period sold into higher Q3 pricing

- CPO prices have ramped up considerably in October 2016 with sales prices now 26% higher than H1 2016 at €680 per tonne

- Production and sales at the Company's Kernel Crushing plant continue to exceed management's expectations with the Palm Kernal Oil extraction rate up to 42.2% for the quarter (H1 2016 41%) and the average sales prices up to €832 (H1 2016 €781).