Business
Full Year Production Update and Issue of Equity
Full Year Production Update and Issue of Equity.
About this update from Dekel Agri-vision Plc
[{"type":"text","content":"\n \nRNS Number : 5169Z Dekel Agri-Vision PLC 13 January 2020 \n\nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (\"MAR\"). Upon the publication of this announcement via a Regulatory Information Service (\"RIS\"), this inside information is now considered to be in the public domain.\n \nDekel Agri-Vision Plc / Index: AIM / Epic: DKL / Sector: Food Producers\n 13 January 2020\nDekel Agri-Vision Plc ('Dekel' or the 'Company')\n \nFull Year Production Update and\nIssue of Equity\n \nDekel Agri-Vision Plc, the West African focused agriculture company, is pleased to provide a production update for its 100%-owned vertically integrated Ayenouan palm oil project in Côte d'Ivoire ('Ayenouan' or the 'Project') for the year ended 31 December 2019. Full year Crude Palm Oil ('CPO') production at the Project totalled 37,649 tonnes in 2019, a 14% increase compared to the 33,077 tonnes of CPO produced in 2018. Further details regarding production and sales at the Project for Q4 and FY 2019 can be found in the table below. \n \nThe Company is also pleased to advise that global CPO prices have increased significantly over the past three months and are currently trading at approximately US$870 per tonne, a 70%+ increase on the sub US$500 levels seen in the summer of 2019. This sharp increase in prices is now feeding into local Ivorian CPO prices which are set monthly based on the proceeding five weeks average CIF USD Rotterdam prices. As a result, Dekel's operations at Ayenouan are expected to benefit from significantly higher CPO prices during the upcoming peak period in H1 2020.\n \n\n\n\n\n\n\nQ4 2019\n\n\nQ4 2018\n\n\nChange\n\n\nFY 2019\n\n\nFY 2018\n\n\nChange\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nFFB collected (tonnes)\n\n\n19,437\n\n\n24,903\n\n\n-22%\n\n\n176,019\n\n\n146,036\n\n\n+21%\n\n\n\n\nCPO production (tonnes)\n\n\n3,912\n\n\n5,464\n\n\n-28%\n\n\n37,649\n\n\n33,077\n\n\n+14%\n\n\n\n\nCPO sales (tonnes)\n\n\n3,873\n\n\n4,950\n\n\n-22%\n\n\n37,713\n\n\n32,692\n\n\n+15%\n\n\n\n\nAverage CPO price/tonne\n\n\n€534\n\n\n€518\n\n\n3%\n\n\n€491\n\n\n€542\n\n\n-9%\n\n\n\n\nPKO production (tonnes)\n\n\n339\n\n\n598\n\n\n-43%\n\n\n2,773\n\...