UK's Anglo-Eastern Plantations dives on lower production

AEP Plantations

16/06/2023 11:25

** Shares of Anglo-Eastern Plantations  ANEA.L  down as much
as 7.8% to over 6-month low of 728p 
    ** Indonesia-focused plantations operator says its own
production of fresh fruit bunches (FFB) from cont ops fell 5% to
420,300 metric tonnes (mt) for the five months ended May 31
    ** Five-month total crude palm oil (CPO) production down
10%, CPO price ex-Rotterdam also fell 39% due to lack of demand
caused by high inventory of vegetable oil stocks
    ** Sees further reduction in CPO prices as crop production
improves further in H2 
    ** Up to last close, stock had fallen 1% so far this year 

 (Reporting by Prerna Bedi in Bengaluru)
 ((Prerna.Bedi@thomsonreuters.com; +91 98052 24616;))