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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Dekel Agri-vision Plc | LSE:DKL | London | Ordinary Share | CY0106502111 | ORD EUR0.0003367 (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.25 | 1.20 | 1.30 | 1.25 | 1.25 | 1.25 | 2,902 | 07:30:02 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Veg Oil Mills,ex Corn & Oth | 38.3M | -4.46M | -0.0080 | -1.56 | 7M |
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 May 2024
Dekel Agri-Vision Plc / Index: AIM / Epic: DKL / Sector: Food Producers
Dekel Agri-Vision Plc
('Dekel' or the 'Company')
April 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 April 2024 monthly production update for its Ayenouan palm oil project in Côte d'Ivoire ('Palm Oil Operation').
Key Highlights
· The Palm Oil Operation had a solid month albeit CPO production was 27.1% lower than the record April 2023 results. This is due to the high season in 2024 appearing to return to a more typical peak cycle in March 2024 compared to 2023 where the peak occurred in April. Year to date April 2024 CPO production remains 5% higher than year to date April 2023.
· Like for like April 2024 CPO sales volumes were 45.8% higher than April last year due to the sale of stock on hand following the strong Q1 2024 production period.
· CPO sales prices continued to be historically strong at €777 per tonne. International prices remain buoyant at approximately €900 per tonne and we are optimistic that as local inventory levels decrease over the coming months local prices should continue to gradually strengthen towards the international price.
· The CPO extraction rate of 22.5% in April 2024 was an excellent result being 5.1% higher than April 2023. We are seeing this trend of higher CPO extraction rates continue in May which is enhancing our gross margin percentage.
|
Apr-24 |
Apr-23 |
Change |
|
|
|
|
FFB processed (tonnes) |
20,012 |
28,846 |
-30.6% |
CPO Extraction Rate |
22.5% |
21.4% |
5.1% |
CPO production (tonnes) |
4,502 |
6,179 |
-27.1% |
CPO Sales (tonnes) |
5,815 |
3,988 |
45.8% |
Average CPO price per tonne |
€777 |
€976 |
-20.4% |
Palm Kernel Oil ('PKO') production (tonnes) |
230 |
382 |
-39.8% |
PKO Sales (tonnes) |
265 |
Nil |
n/a |
Average PKO price per tonne |
€759 |
n/a |
n/a |
Lincoln Moore, Dekel's Executive Director, said: "YTD CPO production levels remain ahead of 2023. In addition, with CPO prices remaining relatively high and enhanced CPO extraction rates, H1 2024 is continuing to be a period of robust financial performance from the Palm Oil Operation."
** 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.
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