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Dekel Agri-Vision PLC – Record November Palm Oil Production Update
Home / Client News / Dekel Agri-Vision PLC – Record November Palm Oil Production Update

Dekel Agri-Vision Plc (AIM: DKL), the West African agriculture company focused on building a portfolio of sustainable and diversified projects, is pleased to provide a record November 2023 monthly production update for its Ayenouan palm oil project in Côte d’Ivoire (‘Palm Oil Operation’).

 

Key Highlights

·      The Palm Oil Operation performed well above expectations during November 2023 recording an increase in Crude Palm Oil (‘CPO’) production of 152.4% compared to November last year.  This is a record November monthly production performance and continues a 9 month streak of higher like for like monthly CPO production.

·      Like for like November 2023 CPO sales volumes were also 82.1% higher than last year due to the strong monthly CPO production.

·      CPO sales prices in November remained steady at €788 per tonne.  Local CPO prices remain below international CPO prices but in turn our FFB purchase prices have also decreased resulting in healthy gross margins being achieved. 

·      The CPO extraction rate increased materially from last month to return to strong levels of 21.7%, which was 3.8% higher than November 2022.  This also contributed to a healthly monthly gross margin performance.

 

 

Nov-23

Nov-22

Change

       

FFB processed (tonnes)

17,818

7,361

142.1%

CPO Extraction Rate

21.7%

20.9%

3.8%

CPO production (tonnes)

3,875

1,535

152.4%

CPO Sales (tonnes)

3,256

1,788

82.1%

Average CPO price per tonne

€778

€1,043

-25.4%

Palm Kernel Oil (‘PKO’) production (tonnes)

157

90

74.4%

PKO Sales (tonnes)

100

Nil

n/a

Average PKO price per tonne

€838

n/a

n/a

 

Lincoln Moore, Dekel‘s Executive Director, said: “A 152.4% increase in CPO production in November compared to last year was an exceptional outcome and together with a significant improvement in the CPO extraction rate has contributed to a record November monthly performance.  We look forward to the Palm Oil Operation finishing the year strongly and reporting our annual 2023 production results in early January.”

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