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Palm oil production levels at Dekel Agri-Vision have fallen as the low season for the commodity lingered longer than normal.
It results in a decrease in crude palm oil production of 17.9% year on year in October.
Like-for-like volumes were also lower than a year ago, the London-listed group reported this morning.
CPO sales prices remained steady at €775 per tonne last month and continue to be historically high.
International CPO prices increased during October to more than €1,050 per tonne.
The company said it was seeing this flow through to its November pre sales and expected to report a material increase in CPO sales prices this month.
Executive director Lincoln Moore added: “Higher international CPO prices are starting to flow through to local CPO prices which should become apparent in our November monthly CPO results.
“Although the CPO low production season has lingered longer than normal, these higher prices should be supportive for the upcoming high season.”
Morning update
More than half (52%) of UK businesses are prioritising international trade as a key growth driver, according to the Santander Trade Barometer. This marks a 5% rise since the spring and more than double the 21% recorded in 2021, reflecting an ongoing trend seen since the barometer’s inception in 2017.
A further 39% of businesses not currently trading internationally said they were considering expanding abroad, with companies increasingly looking to overseas markets for growth and resilience amid easing domestic and global challenges.
UK businesses already trading internationally are targeting high-potential markets such as Australia (46%), Japan (28%) and Nigeria (10%) for future growth. Meanwhile, established trade partners such as the US (35%) and Canada (21%) continue to hold strong appeal.
Despite this shift, markets like the EU remain essential, with 48% of businesses still identifying Europe as a primary trade partner.
Jane Galvin, head of corporate clients at Santander UK, said: “With income and productivity growth in the UK remaining sluggish since the financial crisis, unlocking international trade opportunities for SMEs can be a catalyst for domestic economic growth. The latest barometer underscores the dynamism and adaptability of businesses venturing abroad, underscoring how international trade can provide a vital buffer against domestic slowdowns and access to higher growth economies.
“The government must ensure it is unlocking growth at home by empowering SMEs to explore opportunities provided through global trade.”
This week in the City
After a quiet start to the week, it looks to be another busy week on the markets.
Tomorrow kicks off with the latest Kantar market share data, while Cake Box is set to report interims, M&S hosts a Capital Markets Day and McBride has its AGM.
Nielsen NIQ follows up the Kantar report with its latest grocery sales figures for October.
Discount chain B&M Bargains and Mr Kipling owner Premier Foods are due to publish first-half results on Thursday, with annual results also to be reported by WH Smith.
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