Dekel Agri-Vision Plc (LON:DKL), the West African agriculture company focused on building a portfolio of sustainable and diversified projects, has provided its Q1 2024 production for the Ayenouan palm oil project in Côte d’Ivoire and the cashew processing plant at Tiebissou, Côte d’Ivoire.
Palm Oil Operation Update
· The Palm Oil Operation reported a strong Q1 2024 with Fresh Fruit Bunch (‘FFB’) volumes and Crude Palm Oil (‘CPO’) production increasing 30% and 23.5% respectively compared to Q1 2023.
o March 2024 monthly production was marginally lower than March 2023
· CPO sales quantities increased 18.8% in Q1 2024 compared to last year. The relatively high levels of CPO inventory, and in particular PKO inventory held at the end of Q1 2024 compared to last year should underpin strong sales volumes during Q2 2024.
· The Q1 2024 average CPO sales price achieved was €762 per tonne, a 21.8% decrease from the record Q1 2023 CPO sales prices. The local CPO price in March 2024 continued to trend upwards month on month increasing 2.4% compared to February 2024. Whilst encouraging, local CPO prices remain below international CPO prices as efforts continue locally to manage food prices.