Dekel Agri-Vision PLC Advancement of RSPO Certification Process (4666L)
January 13 2021 - 1:00AM
UK Regulatory
TIDMDKL
RNS Number : 4666L
Dekel Agri-Vision PLC
13 January 2021
Dekel Agri-Vision Plc / Index: AIM / Epic: DKL / Sector: Food
Producers
Dekel Agri-Vision Plc ('Dekel' or the 'Company')
Advancement of Round Table for Sustainable Palm Oil
Certification Process
Dekel Agri-Vision Plc, the West African focused agriculture
company, is pleased to confirm that following significant advances
made in 2020 preparing for the Round Table for Sustainable Palm Oil
('RSPO') certification process, it has now engaged Proforest to
undertake the final RSPO pre-audit of the Company's 100%-owned,
vertically integrated palm oil project at Ayenouan. Proforest is an
established independent organisation specialising in sustainable
practices in the natural resources sector.
As part of the pre-audit, Proforest will undertake a review of
Dekel's programmes and management systems and assess the processes
and procedures put in place by the Company to manage environmental
and social risks and impacts. The Proforest team will also look to
identify opportunities for value addition through the adoption of
environmental and social improvements and initiatives. This will
allow any final recommendations ahead of the formal RSPO audit
process which the Company expects to undertake later this year.
In line with the above, a team from Proforest is due on site at
Ayenouan in February 2021 (subject to any potential UK and South
Africa travel restrictions) and the Company expects to receive a
final report in Q2 2021. It is envisaged that the formal RSPO
certification will commence as soon as practicable following
receipt of the report, subject to the findings. It ought to be
noted that the ongoing coronavirus pandemic may impact exact
timings.
Dekel Agri-Vision Plc Executive Director Lincoln Moore said: "In
our view, RSPO certification is a natural fit with the
collaborative small farmer and co-operative model we have adopted
across our portfolio of agriculture projects in West Africa and
will provide further external validation of our ESG ('Environment,
Social and Governance') standards.
"Placing local smallholders and communities at the centre of
operations, our model has resulted in over 90% of the crude palm
oil ('CPO') we produce at Ayenouan originating from fruit harvested
by local smallholders, while our state-of-the-art nursery has been
supplying farmers with hundreds of thousands of young trees each
year over several years. As a result, we have developed
long-lasting relationships with the local communities in which we
operate and, together with the programmes and procedures we have
put in place, we are confident we are on course to attain RSPO
certification this year. At this point, Dekel will not only be Cote
d'Ivoire's fourth largest CPO producer but one that is certified to
operate in line with globally recognised best practices. The Board
believes it will also potentially allow the Company to sell our CPO
and PKO at a price premium."
Further Information on Proforest
Proforest works with companies through the whole supply chain
across a broad range of agricultural commodities and forest
products to implement responsible production and sourcing
practices. Its engagement with the palm oil sector dates back to
2002 when Proforest worked with WWF and the Swiss supermarket
Migros to develop the first ever social and environmental standard
for palm oil production. Proforest, a trusted partner of RSPO, is a
leading developer of RSPO certification systems and offers support
for responsible palm oil production and sourcing.
Proforest has a strong track record in supporting sustainability
in the palm oil sector, including working with major palm oil
producers to understand the social and environmental risks involved
in production, and developing and implementing sustainable palm oil
policies and implementation plans. It currently works with over 25
companies across Africa, including major RSPO certified
companies.
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 /
Dan Gee-Summons (Corporate Finance)
Simon Johnson (Corporate Broking) +44 (0) 207 614 5900
Optiva Securities Limited (Joint Broker)
Christian Dennis
Jeremy King +44 (0) 203 137 1903
St Brides Partners Ltd (Investor Relations)
Frank Buhagiar
Cosima Akerman
Megan Dennison +44 (0) 207 236 1177
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 production in Q2 2021.
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