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.
12 August 2024
Dekel
Agri-Vision Plc / Index: AIM / Epic: DKL / Sector: Food
Producers
Dekel Agri-Vision
Plc
('Dekel' or the
'Company')
July 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
a July production update for its Ayenouan palm oil project in Côte
d'Ivoire ('Palm Oil Operation').
Key
Highlights
· The
Palm Oil Operation delivered another solid month with July 2024 CPO
production 6.6% higher than July 2023. Year to date July 2024
CPO production remains in line with market
expectations.
· CPO
sales prices continued to be historically strong at €778 per
tonne. International prices continue to remain steady at
approximately €900 per tonne. We also continue to see local
CPO prices gradually increase towards the international price after
commencing January 2024 at €737 per tonne.
· The
CPO extraction rate of 20.7% in July 2024 was 7.3% higher than July
2023. We are continuing to see higher CPO extraction rates
compared to last year which is enhancing our gross margin
percentage.
· CPO
sales quantities were lower in July 2024 compared to July
2023. This is purely a timing difference due to the high
season in 2024 returning to a more typical peak earlier than 2023
where the peak occurred late in H1 2023.
|
|
Jul-24
|
July-23
|
Change
|
|
|
|
|
|
|
FFB processed (tonnes)
|
11,517
|
11,558
|
-0.4%
|
|
CPO Extraction Rate
|
20.7%
|
19.3%
|
7.3%
|
|
CPO production (tonnes)
|
2,379
|
2,231
|
6.6%
|
|
CPO Sales (tonnes)
|
3,340
|
5,623
|
-40.6%
|
|
Average CPO price per
tonne
|
€778
|
€814
|
-4.4%
|
|
Palm Kernel Oil ('PKO') production
(tonnes)
|
195
|
207
|
-5.8%
|
|
PKO Sales (tonnes)
|
Nil
|
542
|
n/a
|
|
Average PKO price per
tonne
|
n/a
|
€749
|
n/a
|
Lincoln Moore, Dekel's
Executive
Director, said:
"The Palm Oil
Operation continued its solid performance in 2024 in terms of CPO
production and CPO extraction rates. With prices continuing
to be historically strong and gradually increasing over recent
months, we remain on track to deliver strong financial outcomes
from the Palm Oil Operation in 2024."
** 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
|
|
Zeus Capital Ltd (Nomad and Joint Broker)
James Joyce
Darshan Patel
Isaac Hooper
|
+44 (0) 203 829 5000
|
|
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 in
2024.