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Agriculture company Dekel Agri-Vision said it expected 'material uplift' in performance in 2022 following a rise in annual production and sales, led by above-trend volumes and record sales prices in the second half of the year.
For the year ended 31 December 2021, crude palm oil production climbed 17.5% year-on-year and sales were up 14.9%.
The average crude palm oil price was 44.2% higher at €868 per tonne.
In December, CPO production jumped 110.2%.
'2021 was a highly successful year for our palm oil operation, particularly in the second half low season where significantly higher than normal volumes and record sales prices contribute to a year where CPO production and CPO pricing records were broken,' the company said.
'Furthermore, with CPO prices continuing to remain at 10-year highs, we are looking forward to the upcoming high season, which typically runs from around late Jan through to May with great optimism for another outstanding year.'
'Together with the commencement of production at our cashew project at Tiebissou which we expect will gain significant momentum in 2022, we are confident that the year ahead will see a further material uplift from 2021's strong performance.'