Anglo Eastern Plantations (GB:AEP) has released an update.
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Anglo-Eastern Plantations reports a 5% decrease in fresh fruit bunches production and a 7% drop in crude palm oil production for Q1 2024, reflecting weather disruptions and intense competition. Despite a strong balance sheet with no outstanding loans and a net cash position, cash reserves dipped due to strategic investments. The outlook for crude palm oil prices remains uncertain with weak demand and potential declines due to increased soybean production.
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