Business
February Palm Oil Production & Issue of Equity
February Palm Oil Production & Issue of Equity.
About this update from Dekel Agri-vision Plc
[{"type":"text","content":"\n\n \nThis announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended (\"MAR\"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.\n \n11 March 2024\n \nDekel Agri-Vision Plc / Index: AIM / Epic: DKL / Sector: Food Producers\n \nDekel Agri-Vision Plc\n \n('Dekel' or the 'Company')\n \nFebruary Palm Oil Production Update\nIssue of Equity\n \nDekel 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 February 2024 monthly production update for its Ayenouan palm oil project in Côte d'Ivoire ('Palm Oil Operation').\n \nKey Highlights\n· The Palm Oil Operation continued its excellent start to 2024 year recording an increase in Crude Palm Oil ('CPO') production of 70.2% in February 2024 compared to February last year. This was the 12th consecutive month of higher monthly like for like CPO production. \n· Like for like February 2024 CPO sales volumes were also 17.6% higher than February last year due to the strong monthly CPO production. February 2024 month end stock on hand likely to drive higher sales volumes in March 2024 and beyond.\n· CPO sales prices increased slightly to €759 per tonne. Similarly to the previous month, local CPO prices remain below international CPO prices as efforts continue locally to manage food prices, however, our FFB purchase prices are also lower resulting in continued healthy gross margins being achieved. \n· The CPO extraction rate of 21.6% has increased from January 2024 but remained 8.7% lower than the unusually high extraction rate achieved in February 2023.\n \n\n\n\n\n\n\n\nFeb-24\n\n\nFeb-23\n\n\nChange\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nFFB processed (tonnes)\n\n\n17,294\n\n\n9,418\n\n\n83.6%\n\n\n\n\nCPO Extraction Rate\n\n\n21.6%\n\n\n23.3%\n\n\n-7.3%\n\n\n\n\nCPO production (tonnes)\n\n\n3,742\n\n\n2,198\n\n\n70.2%\n\n\n\n\nCPO Sales (tonnes)\n\n\n...