This announcement contains inside information for the purposes
of Article 7 of the UK version of Regulation (EU) No 596/2014 which
is part of UK law by virtue of the European Union (Withdrawal) Act
2018, as amended ("MAR"). Upon the publication of this announcement
via a Regulatory Information Service, this inside information is
now considered to be in the public domain.
10 May 2024
Dekel
Agri-Vision Plc / Index: AIM / Epic: DKL / Sector: Food
Producers
Dekel Agri-Vision
Plc
('Dekel'
or the 'Company')
April Palm Oil Production
Update
Dekel Agri-Vision Plc
(AIM: DKL), the
West African agriculture
company focused on building a portfolio of sustainable and
diversified projects, is pleased to provide
an April 2024 monthly production update for its Ayenouan palm oil
project in Côte d'Ivoire ('Palm Oil Operation').
Key
Highlights
· The
Palm Oil Operation had a solid month albeit CPO production was
27.1% lower than the record April 2023 results. This is due
to the high season in 2024 appearing to return to a more typical
peak cycle in March 2024 compared to 2023 where the peak occurred
in April. Year to date April 2024 CPO production remains 5%
higher than year to date April 2023.
· Like
for like April 2024 CPO sales volumes were 45.8% higher than April
last year due to the sale of stock on hand following the strong Q1
2024 production period.
· CPO
sales prices continued to be historically strong at €777 per
tonne. International prices remain buoyant at approximately
€900 per tonne and we are optimistic that as local inventory levels
decrease over the coming months local prices should continue to
gradually strengthen towards the international price.
· The
CPO extraction rate of 22.5% in April 2024 was an excellent result
being 5.1% higher than April 2023. We are seeing this trend
of higher CPO extraction rates continue in May which is enhancing
our gross margin percentage.
|
|
Apr-24
|
Apr-23
|
Change
|
|
|
|
|
|
|
FFB processed (tonnes)
|
20,012
|
28,846
|
-30.6%
|
|
CPO Extraction Rate
|
22.5%
|
21.4%
|
5.1%
|
|
CPO production (tonnes)
|
4,502
|
6,179
|
-27.1%
|
|
CPO Sales (tonnes)
|
5,815
|
3,988
|
45.8%
|
|
Average CPO price per
tonne
|
€777
|
€976
|
-20.4%
|
|
Palm Kernel Oil ('PKO') production
(tonnes)
|
230
|
382
|
-39.8%
|
|
PKO Sales (tonnes)
|
265
|
Nil
|
n/a
|
|
Average PKO price per
tonne
|
€759
|
n/a
|
n/a
|
Lincoln Moore, Dekel's
Executive
Director, said:
"YTD CPO
production levels remain ahead of 2023. In addition, with CPO
prices remaining relatively high and enhanced CPO extraction rates,
H1 2024 is continuing to be a period of robust financial
performance from the Palm Oil Operation."
** ENDS **
For further information, please
visit the Company's website www.dekelagrivision.com or
contact:
|
Dekel Agri-Vision Plc
Youval Rasin
Shai Kol
Lincoln Moore
|
+44 (0) 207 236 1177
|
|
WH
Ireland Ltd (Nomad and Joint Broker)
James Joyce
Darshan Patel
Isaac Hooper
|
+44 (0) 20 7220 1666
|
|
Optiva Securities Limited (Joint Broker)
Christian Dennis
Daniel Ingram
|
+44 (0) 203 137 1903
|
Notes:
Dekel Agri-Vision Plc is a
multi-project, multi-commodity agriculture company focused on West
Africa. It has a portfolio of projects in Côte d'Ivoire at
various stages of development: a fully operational palm oil project
in Ayenouan where fruit produced by local smallholders is processed
at the Company's 60,000tpa capacity crude palm oil mill and a
cashew processing project in Tiebissou, which is currently
transitioning to full commercial production.