Dekel Agri-Vision Plc (LON:DKL), the West African agriculture company focused on building a portfolio of sustainable and diversified projects, has provided an October production update for its Ayenouan palm oil project in Côte d’Ivoire (Palm Oil Operation) as well as a positive progress update regarding the performance of the new shelling and peeling equipment at the cashew processing plant at Tiebissou, Côte d’Ivoire (Cashew Operation).
Key Highlights – Palm Oil Operation
· The Palm Oil Operation low season has lingered longer than normal resulting in a decrease in Crude Palm Oil (‘CPO’) production of 17.9% in October 2024 compared to October 2023.
· The CPO extraction rate was slightly higher in October 2024 compared to October 2023. As we exit the low season, we expect CPO extraction rate to trend higher.
· Like for like October 2024 CPO sales volumes were lower than October 2023 reflecting the lower production levels.
· CPO sales prices remained steady at €775 per tonne in October 2024 and continue to be historically high. International CPO prices increased during October 2024 to over €1,050 per tonne. We are seeing this flow through to our November pre sales and we expect to report a material increase in our CPO sales prices for November 2024.