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 September 2024
Dekel
Agri-Vision Plc / Index: AIM / Epic: DKL / Sector: Food
Producers
Dekel Agri-Vision
Plc
('Dekel' or the
'Company')
August 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 August production update for its Ayenouan palm oil project in
Côte d'Ivoire ('Palm Oil Operation').
Key
Highlights
· The
Palm Oil Operation delivered stronger like for like production in
August 2024 compared to August 2023 recording an increase in Crude
Palm Oil ('CPO') production of 14.5%.
· The
CPO extraction rate continued its recent trend of performing well
compared to last year recording a 3.8% increase in August 2024
versus August 2023. As we exit the low season over the next
month, we expect CPO extraction rate to trend higher.
· Like
for like August 2024 CPO sales volumes remained in line with August
2023.
· CPO
sales prices increased slightly to €780 per tonne in August 2024
compared to €778 per tonne achieved last month. International
CPO prices increased during August from around €900 to close to
€975 per tonne. While local prices continue to trade below
the international price, we expect to see an ongoing gradual
increase in our local CPO sales prices in September onwards should
international prices remain buoyant.
|
|
Aug-24
|
Aug-23
|
Change
|
|
|
|
|
|
|
FFB processed (tonnes)
|
8,454
|
7,659
|
10.4%
|
|
CPO Extraction Rate
|
19.2%
|
18.5%
|
3.8%
|
|
CPO production (tonnes)
|
1,621
|
1,416
|
14.5%
|
|
CPO Sales (tonnes)
|
1,777
|
1,786
|
-0.5%
|
|
Average CPO price per
tonne
|
€780
|
€822
|
-5.1%
|
|
Palm Kernel Oil ('PKO') production
(tonnes)
|
136
|
185
|
-26.5%
|
|
PKO Sales (tonnes)
|
Nil
|
815
|
n/a
|
|
Average PKO price per
tonne
|
n/a
|
€798
|
n/a
|
Lincoln Moore, Dekel's
Executive
Director, said:
"We are pleased
to report a 14.5% increase in CPO monthly production in August
compared to last year and the continuation of the recent trend of
higher CPO extraction rates compared to last year.
International CPO prices remain historically high and we expect
this to translate into continued increases in local CPO prices
during the back end of 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
|
+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.