Dekel Agri-Vision tracking well for another year of profitability

Dekel Agri-Vision Plc (LON:DKL), the West African agriculture company focused on building a portfolio of sustainable and diversified projects, has provided its Q3 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 continued to its steady production performance during Q3 2024 although both Fresh Fruit Bunch (‘FFB’) volumes and Crude Palm Oil (‘CPO’) production were slightly lower by 10.2% and 7.5% respectively compared to Q3 2023. 

·      The CPO extraction rate for Q3 2024 of 19.9% was slightly higher than Q3 2023 continuing the trend of relatively strong CPO extraction rates achieved during 2024.

·      The decrease in CPO sales quantities was largely a timing issue due to last year’s high season arriving much later than usual, leading to abnormally high CPO sales levels in Q3 2023.

·      The Q3 2024 average CPO sales price of €777 per tonne continued its gradual increase during 2024, albeit slightly lower than the 2023 CPO sales price of €817 per tonne. International CPO prices continue to remain strong at around €950 per tonne providing a foundation for the continued solid financial performance from the Palm Oil Operation.

·      PKO sale prices which are driven by more localised supply and demand dynamics increased materially during Q3 2024 compared to earlier this year and were 8.9% higher than Q3 2023.

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