Business
April Palm Oil Production & Cashew Project Update
April Palm Oil Production & Cashew Project Update.
About this update from Dekel Agri-vision Plc
[{"type":"text","content":"\n \n \n \n \n \n Dekel Agri-Vision Plc / Index: AIM / Epic: DKL / Sector: Food Producers\n \n \n \n \n \n \n Dekel Agri-Vision Plc ('Dekel' or the 'Company')\n \n \n \n \n April Palm Oil Production Update and Cashew Project Update\n \n \n \n \n \n \n Dekel Agri-Vision Plc\n (AIM: DKL)\n , the\n West African\n agriculture company focused on building a portfolio of sustainable and diversified projects, is pleased to\n provide an April production update for its Ayenouan palm oil project in Côte d'Ivoire, and an update on the timing of the ramp-up of production of our large-scale cashew processing plant at Tiebissou, Côte d'Ivoire (the 'Cashew Project').\n \n \n \n \n \n \n Key Highlight\n \n s\n \n \n \n \n \n \n \n \n Palm Oil Project\n \n \n \n ·\n The Crude Palm Oil ('CPO') high season volumes have continued to remain weak in line with guidance provided in our announcement dated 10 March 2022, with April 2022 production 42.4% lower than April 2021.\n \n \n o \n Our agronomist currently advises that low recent rainfall has continued to delay the typical ripening timing of fresh fruit bunches ('FFB') and they remain cautiously optimistic we will see some improvement in the shortfall of monthly FFB over the next two months, provided the levels of rainfall increase over the coming weeks. \n \n \n ·\n CPO sales quantities in April 2022 were lower as a percentage of production than April 2021 as we seek to carefully manage sales in order to maximise prices, given local Ivory Coast prices continue to remain materially lower than international prices.\n \n \n ·\n CPO prices achieved continue to strengthen with prices of €1,061 per tonne achieved in April 2022, a 32.1% increase compared to April 2021. In addition, PKO prices remain significantly higher than the prior year with prices achieved of €1,448, a 72.8% increase compared to April 2021.\n \n \n ·\n CPO extraction rate continued its higher trend at 22.5% in April 2022, 1.1 percentage points higher than April 2021.\n \n \n ·\n Overall, despite the weak FFB volumes, the Company is delivering a strong year-to-date financial performance driven by high CPO and Palm Kernel Oil ('PKO') prices, in addition to the relatively greater extraction rate compared to prior year.\n \n \n \n \n \n \n \n \n Cashew Project\n \n \n \n ·\n Colour sorter due...