Dekel Agri-Vision Palm Oil Operation continues to deliver excellent production results

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 has continued to deliver excellent production results with Fresh Fruit Bunch (‘FFB’) volumes and Crude Palm Oil (‘CPO’) production increasing 161.3% and 140.2% respectively compared to July 2022.  We have now entered the low season and expect the typical softening of production results to take place over the next 1-2 months.

·      CPO sales quantities increased a substantial 350.9% in July compared to last year and Palm Kernel Oil (‘PKO’) production increased 127.5% compared to July last year.  The exceptional sales quantities for CPO in particular, reflect the unwinding of higher than normal inventory numbers at the end of H1 2023 resulting from the strong late peak to the recent production high season.

·      CPO sales price achieved remained historically strong at €814 per tonne, a slight increase from €797 per tonne last month but at the lower end of international CPO prices which traded around €850-875 per tonne in July.  This differential reflects the relatively high local CPO supply levels created by the strong late peak to the high season.  We expect local CPO prices will shortly increase again in comparison to the international prices as local CPO supply levels decrease during the low season.

·      The CPO extraction rate dipped during July to 19.3% compared to 21% in July 2022.  Whilst lower extractions are normal during the low season the excess dip was attributed by farmers to unusually high rainfall over the past month impacting FFB ripening and harvesting.  Over the past 10 days we have seen extraction rates normalise back to around 20% which is more typical during the low season.

·      The financial results for July 2023 were exceptional compared to July 2022, largely driven by the 350.9% increase in CPO sales volumes.

FFB processed (tonnes)11,5584,423161.3%
CPO Extraction Rate19.3%21.0%-8.5%
CPO production (tonnes)2,231929140.2%
CPO Sales (tonnes)5,6231,247350.9%
Average CPO price per tonne€814€973-16.3%
Palm Kernel Oil (‘PKO’) production (tonnes)20791127.5%
PKO Sales (tonnes)54234457.6%
Average PKO price per tonne€749€1,431-47.7%

Lincoln Moore, Dekel‘s Executive Directorsaid: “The Palm Oil Operation continues to perform very well with production and sales volumes significantly ahead of 2022.  With prices continuing to be historically strong, albeit lower than the super peak 2022 prices, we remain on track to deliver excellent financial outcomes from the Palm Oil Operation in 2023.”

Click to view all articles for the EPIC:
Or click to view the full company profile:
Share on facebook
Share on twitter
Share on linkedin
Dekel Agri-Vision PLC

More articles like this

Dekel Agri-Vision PLC

Palm rises on Dalian strength

Malaysian palm oil futures opened higher on Monday, tracking gains in rival Dalian oils and helped by a softer ringgit. The benchmark palm oil contract FCPOc3 for December delivery on the Bursa Malaysia Derivatives Exchange rose 27 ringgit, or 0.73%,

Dekel Agri-Vision PLC

Why sustainable palm oil?

We are in a climate crisis. Unsustainable agricultural production of various crops can exacerbate climate change, destroy ecosystems, and endanger wildlife. They can also cause conflicts over land ownership and erode workers’ rights. However, while unsustainable production can

Dekel Agri-Vision PLC

Dekel reports robust month for palm oil operation

West Africa-focussed agriculture company Dekel Agri-Vision updated the market on its Ayenouan palm oil venture in Côte d’Ivoire on Friday. The AIM-traded firm said its palm oil operation marked its sixth successive month of amplified production in August. It reported

Dekel Agri-Vision PLC

Producers work to ensure palm oil is responsibly sourced

Much of the concern about oil sustainability focuses on palm oil as it has been linked to deforestation, which negatively impacts the environment, forest wildlife and the communities where it’s grown. The Roundtable for Sustainable Palm Oil (RSPO)

Dekel Agri-Vision PLC

Malaysian palm edges higher

Malaysian palm oil futures recovered on Tuesday, helped by a weaker ringgit and stronger palm oil on the Dalian Commodity Exchange, although imminent oversupply concerns capped gains. The benchmark palm oil contract FCPOc3 for November delivery on the Bursa Malaysia

Dekel Agri-Vision PLC

Palm rises tracking stronger rival oils

Malaysian palm oil futures rose on Friday tracking stronger rival vegetable oils, and were set for a second straight week of gains. The benchmark palm oil contract FCPOc3 for November delivery on the Bursa Malaysia Derivatives Exchange gained 30 ringgit, or 0.77% to

Dekel Agri-Vision PLC

The ‘resilient’ palm oil demand

While the imports of pretty much everything else has gone down – Pakistan’s love for palm oil seems to be intact. Pakistan imported 3 million tons of palm oil in FY23 – much in line with previous highs

Dekel Agri-Vision PLC

Palm oil rallies over 3%

Malaysian palm oil futures jumped more than 3% on Tuesday, set to end a three-session decline on a weaker ringgit, improving exports and strength in rival edible oils. The benchmark palm oil contract FCPOc3 for October delivery on the Bursa Malaysia Derivatives Exchange was up 115 ringgit, or

Dekel Agri-Vision PLC

Sustainability is a continuous journey

Joseph D’Cruz has more than 20 years of experience in sustainability, having worked for various international organizations like the United Nations Development Programme and the World Economic Forum, on issues ranging from climate change to poverty eradication to

Dekel Agri-Vision PLC

Sustainability matters when considering palm oil strategies

Sustainability concerns have given food companies reason to consider altering their approaches to palm oil, a commodity linked to deforestation. Companies should be aware researchers are investigating how oils produced with yeast or algae may serve as palm

Dekel Agri-Vision PLC

Palm oil sector to get boost in second half of 2023

The accession of the United Kingdom to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), improved labour conditions and a softer ringgit are expected to be the catalysts for the palm oil sector to be fruitful in

Dekel Agri-Vision PLC

Deploying innovation in the palm oil industry

The utilisation of palm oil is widespread as a vegetable oil and it is used in various industries such as food, personal care products, and biofuels. The production of palm oil has experienced a notable rise on a

Dekel Agri-Vision PLC

Palm oil rebounds on firm demand

Malaysian palm oil futures rebounded on Wednesday, lifted by robust demand for the commodity and tracking higher rival soyoil prices. The benchmark palm oil contract FCPOc3 for September delivery on the Bursa Malaysia Derivatives Exchange gained 35 ringgit, or 0.9%,

No more posts to show