Dekel Agri-Vision, a company focused on developing sustainable and diversified agriculture projects in West Africa, recently provided an update on the monthly production at its Ayenouan palm oil operation in Ivory Coast. In May, the company processed 18,725 tonnes of fresh fruit bunches of palm, marking a 23% decline from the 24,301 tonnes processed during the same period last year.
This decrease in fresh fruit bunches consequently led to a reduction in crude palm oil (CPO) production, which fell by 18% to 4,368 tonnes from the previous year’s 5,306 tonnes. Sales also saw a decline, dropping 17% to 3,959 tonnes from 4,741 tonnes. Despite these declines, Dekel succeeded in improving the extraction rate at Ayenouan, increasing it to 23.3% from 21.8%. However, the company faced a challenge with average prices, which fell by 19% to EUR777 from the previous year’s EUR953.
Commenting on the update, Executive Director Lincoln Moore expressed optimism about the palm operation’s performance. He highlighted the strong production levels, historically high CPO prices, and excellent extraction rates as indicators of the operation’s robustness. Moore assured that Dekel Agri-Vision remains well on track with market expectations for the first half of 2024, and the company looks forward to announcing further details next month.
Dekel Agri-Vision PLC (LON:DKL) aspires to become a leading agro-industrial company in West Africa, one that creates value for shareholders whilst at all times placing the interests of the local communities and environment in which it operates in at the heart of its operations.
