Business
February Palm Oil and Cashew Project Update
February Palm Oil and Cashew Project Update.
About this update from Dekel Agri-vision Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2735E\n Dekel Agri-Vision PLC\n 10 March 2022\n \n \n \n \n \n \n \n Dekel Agri-Vision Plc / Index: AIM / Epic: DKL / Sector: Food Producers\n \n \n \n \n \n Dekel Agri-Vision Plc ('Dekel' or the 'Company')\n \n \n February Palm Oil Production Update and Cashew Project Update\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 a February 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 Palm Oil Project\n \n \n · \n The Crude Palm Oil ('CPO') high season, which normally ramps up in February, has yet to commence therefore in line with the guidance we provided last month our CPO production is 40.8% lower than February last year. Local experts who carry out fruit bunch counts and fruit ripening assessments currently estimate the high season to commence in April. In terms of agronomic conditions, there has been no material differences in rainfall and sunlight hours noted over the past 12 months to pin point any specific reasons for the seasonal variations which also included materially higher FFB volumes than normal in the second half of 2021.\n \n \n · \n CPO of €979 per tonne achieved in February 2022, a 23.6% increase compared to February 2021 \n \n \n o \n In the past two weeks international CPO prices have spiked to all-time record levels of approximately €1,700. \n \n \n · \n CPO extraction rate increased 1 percentage point from January to 22.3% and was 0.5 percentage points higher than February 2021.\n \n \n · \n Palm Kernel Oil ('PKO')\n prices also continued their strong momentum following the commencement of exports achieving €1,447 per tonne in February 2022, an 86.0% increase compared to February 2021.\n \n \n o \n In the past two weeks international prices have spiked to all-time record levels of approximately €2,200.\n \n \n \n \n \n Cashew Project\n \n \n · \n Production from the Cashew project continued at approximately 15% of production capacity in January 2022 ...