Dekel Agri-Vision palm oil operation continues solid performance in 2024

Dekel Agri-Vision Plc (LON:DKL), the West African agriculture company focused on building a portfolio of sustainable and diversified projects, has provided a July production update for its Ayenouan palm oil project in Côte d’Ivoire.

Key Highlights

·      The Palm Oil Operation delivered another solid month with July 2024 CPO production 6.6% higher than July 2023.  Year to date July 2024 CPO production remains in line with market expectations. 

·      CPO sales prices continued to be historically strong at €778 per tonne.  International prices continue to remain steady at approximately €900 per tonne.  We also continue to see local CPO prices gradually increase towards the international price after commencing January 2024 at €737 per tonne.

·      The CPO extraction rate of 20.7% in July 2024 was 7.3% higher than July 2023.  We are continuing to see higher CPO extraction rates compared to last year which is enhancing our gross margin percentage.

·      CPO sales quantities were lower in July 2024 compared to July 2023.  This is purely a timing difference due to the high season in 2024 returning to a more typical peak earlier than 2023 where the peak occurred late in H1 2023.

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