Anglo Eastern Plantations Faces Production Dip

Anglo Eastern Plantations (GB:AEP) has released an update.

Anglo Eastern Plantations Plc reports a 4% decrease in fresh fruit bunches production and a 9% decrease in crude palm oil production for the first five months of 2024 compared to the previous year, attributing the decline to high rainfall and operational challenges. Despite a marginal increase in the average CPO price, the company expects weaker demand and prices for CPO in the near term. Development updates include the commencement of operations at the HPP mill and progress on the eighth mill’s earthworks expected to start by the third quarter of 2024.

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