Dekel Agri-Vision PLC September & Q3 2021 Palm Oil Production Update (4263O)
08 Octubre 2021 - 1:00AM
UK Regulatory
TIDMDKL
RNS Number : 4263O
Dekel Agri-Vision PLC
08 October 2021
Dekel Agri-Vision Plc / Index: AIM / Epic: DKL / Sector: Food
Producers
Dekel Agri-Vision Plc ('Dekel' or the 'Company')
September & Q3 2021 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 September and Q3 2021
production update for its 100% owned Ayenouan palm oil project in
Côte d'Ivoire.
Key Highlight s
-- September and Q3 2021 saw a continuation of the recent run of
improved production, sales and pricing results in our core CPO
business
-- CPO prices continue to remain very strong with average prices
achieved in Q3 2021 of EUR950, a 72.7% increase in average realised
CPO prices compared to August 2020
-- Over the last few days, international CPO prices have been
trading at all time record levels. Should prices remain in this
range we are well positioned to further improve on our 2021 record
financial high season in 2022 which commences in around 3
months
Lincoln Moore, Dekel 's Executive Director , said: "We are
pleased by the continuing growth we have seen in our CPO production
during Q3 2021 . Given global CPO prices are currently trading at
an all time high, we are very well positioned to continue this
strong period of financial growth into 2022"
Sep-21 Sep-20 Change Q3 2021 Q3 2020 Change
FFB processed (tonnes) 10,393 9,274 12.1% 27,157 24,243 12.0%
CPO production (tonnes) 2,035 1,965 3.6% 5,428 5,280 2.8%
CPO Sales (tonnes) 2,046 1,977 3.5% 6,945 5,278 31.6%
Average CPO price
per tonne EUR954 EUR604 57.9% EUR950 EUR550 72.7%
PKO production (tonnes) 137 149 -8.1% 408 422 -3.3%
PKO Sales (tonnes) Nil 204 n/a 1,061 543 95.4%
Average PKO price
per tonne n/a EUR564 n/a EUR817 EUR568 43.8%
PKC production (tonnes) 241 236 2.1% 703 838 -16.1
PKC Sales (tonnes) 260 189 37.6% 685 764 -10.3%
Average PKC price
per tonne EUR80 EUR59 35.6% EUR80 EUR60 33.3%
Crude Palm Oil
-- Production: Like for like CPO production increased 2.8% in Q3
2021 compared to Q3 2020. This resulted from high FFB quantities
offsetting weaker extraction rates
-- Sales: The sale of stock on hand at the end of the high
season, led to a 31.6% increase in sales in Q3 2021 compared to Q3
2020
-- Prices: Local CPO sales prices remained very strong at
EUR950, 72.7% higher than prices achieved in Q3 2021
Palm Kernel Oil ('PKO') and Palm Kernel Cake ('PKC')
-- Production: PKO and PKC production in Q3 2021 slightly down
by 3.3% and 16.1% respectively. We currently hold materially higher
levels of kernels to be processed compared to this time last year,
so we expect a material increase in production during Q4 2021 once
these excess kernels are processed compared to Q4 2020
-- Sales: 95.4% increase in PKO sales quantities in Q3 2021
compared to Q3 2020 as stock on hand post the high season was
sold
-- Prices: 43.8% increase in PKO prices during Q3 2021 compared
to Q3 2020. We are continuing the strategy of managing PKO sales
carefully as the local price remains lower than the international
price
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 /
Elliot Mustoe (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 November 2021.
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END
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