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.
13 February 2024
Dekel
Agri-Vision Plc / Index: AIM / Epic: DKL / Sector: Food
Producers
Dekel Agri-Vision
Plc
('Dekel'
or the 'Company')
January 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 January 2024 monthly production update for its Ayenouan palm oil
project in Côte d'Ivoire ('Palm Oil Operation').
Key
Highlights
· The
Palm Oil Operation has started the 2024 year well recording an
increase in Crude Palm Oil ('CPO') production of 56.2% compared to
January last year.
· Like
for like January 2024 CPO sales volumes were also 38% higher than
last year due to the strong monthly CPO production.
· CPO
sales prices in January softened from last month to €737 per tonne
but we expect to see an uptick in CPO prices again in
February. Local CPO prices remain below international CPO
prices as efforts continue locally to manage food prices, however,
our FFB purchase prices are also lower resulting in continued
healthy gross margins being achieved.
· The
CPO extraction rate of 21% was typical for the month of January but
8.7% lower than the unusually high extraction rate achieved in
January 2023.
· The
product orders for the additional Cashew equipment have been made
and we are working towards our objective of increasing our
production in phases from Q2 2024.
|
|
Jan-24
|
Jan-23
|
Change
|
|
|
|
|
|
|
FFB processed (tonnes)
|
13,508
|
7,892
|
71.2%
|
|
CPO Extraction Rate
|
21.0%
|
23.0%
|
-8.7%
|
|
CPO production (tonnes)
|
2,839
|
1,818
|
56.2%
|
|
CPO Sales (tonnes)
|
2,336
|
1,693
|
38.0%
|
|
Average CPO price per
tonne
|
€737
|
€1,089
|
-32.3%
|
|
Palm Kernel Oil ('PKO') production
(tonnes)
|
173
|
82
|
111.0%
|
|
PKO Sales (tonnes)
|
Nil
|
30
|
n/a
|
|
Average PKO price per
tonne
|
n/a
|
€1,143
|
n/a
|
Lincoln Moore, Dekel's
Executive
Director, said:
"The Palm Oil
Operation has started 2024 very well continuing the excellent
performance achieved in 2023. We will shortly be entering the
production high season and we are operationally well positioned to
take advantage of the anticipated spike in production levels over
the coming months."
** 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
|
|
WH
Ireland Ltd (Nomad and Joint Broker)
James Joyce
Darshan Patel
Isaac Hooper
|
+44 (0) 20 7220 1666
|
|
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.