TIDMDKL
RNS Number : 1886L
Dekel Agri-Vision PLC
09 September 2021
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 100% owned Ayenouan palm oil project in Côte
d'Ivoire.
Key Highlight s
-- Positive August like for like production and pricing results
recorded across all key production metrics
-- 1,852 tonnes of CPO sold in August 2021, 25.0% higher than
August 2020 as stock on hand post the high season was sold into a
buoyant local CPO market
-- PKO sales 181.3% higher than August 2020 as a significant
portion of high season stock on hand was sold during the month
-- CPO prices continue to remain very strong with average prices
achieved in August 2021 of EUR947, a 76.0% increase in average
realised CPO prices compared to August 2020
-- International CPO prices continue to remain at 10 year highs.
Should prices remain around this level over the coming months, we
are very well placed to continue this period of strong momentum
into the next high season commencing mid January
Lincoln Moore, Dekel 's Executive Director , said:
"International prices have continued to remain at cyclical high
levels as stock levels in the main producing countries remain tight
and key buying countries continue to restock as global markets
continue to reopen. Coupled together with robust production levels
to date in H2 2021, the palm oil project is continuing to perform
extremely well in 2021."
"With the upcoming half year report expected to show a more
profitable H1 financial performance compared to last year, and with
the large scale cashew processing project remaining on course to
commence first production within the next 60 days, Dekel is well
placed to deliver a material step up in financial performance over
the next 6-12 months and I look forward to providing further
updates in due course."
Aug-21 Aug-20 Change
FFB processed (tonnes) 8,469 7,044 20.2%
CPO production (tonnes) 1,678 1,581 6.1%
CPO Sales (tonnes) 1,852 1,482 25.0%
Average CPO price
per tonne EUR947 EUR538 76.0%
PKO production (tonnes) 169 101 67.3%
PKO Sales (tonnes) 571 203 181.3%
Average PKO price
per tonne EUR832 EUR554 50.2%
PKC production (tonnes) 293 196 49.5%
PKC Sales (tonnes) 211 239 -11.7%
Average PKC price
per tonne EUR80 EUR60 33.3%
Crude Palm Oil
-- Production: Like for like CPO production increased 6.1% in
August 2021 compared to August 2020. This resulted from high FFB
quantities offsetting weaker extraction rates
-- Sales: A continuation of the sale of stock on hand at the end
of the high season, led to a 25.0% increase in sales in August 2021
compared to August 2020
-- Prices: Critically, CPO sales prices remained very strong at
EUR947, 76.0% higher than prices achieved in August 2020
o International CPO prices continue to trade at multi-year highs
in a range of EUR900 - EUR1,025 per tonne
Palm Kernel Oil ('PKO') and Palm Kernel Cake ('PKC')
-- Production: PKO and PKC production increased 67.3% and 49.5%
respectively as processing of material on hand normalised following
a period of mechanical disruption in July
-- Sales: 181.3% increase in PKO sales quantities as stock on
hand post the high season continued to unwind
-- Prices: 50.2% increase in PKO prices to EUR832 per tonne
compared to August 2020. As with previous months, local PKO prices
continue to slowly improve with August being our highest prices
achieved to date this year
Production Updates
The Company will continue issuing CPO production figures on a
monthly basis to provide shareholders with visibility on operations
and trading during the global COVID-19 pandemic.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the
publication of this announcement via a Regulatory Information
Service ("RIS"), this inside information is now considered to be in
the public domain.
** 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
Arden Partners Plc (Nomad and Joint Broker)
Paul Shackleton / Ruari McGirr /
Akhil Shah (Corporate Finance) +44 (0) 207 614 5900
Optiva Securities Limited (Joint Broker)
Christian Dennis
Jeremy King +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 crude
palm oil mill; a cashew processing project in Tiebissou, which is
due to commence commissioning in September 2021.
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END
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September 09, 2021 02:00 ET (06:00 GMT)
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