Business
January Palm Oil and Cashew Operation Update
January Palm Oil and Cashew Operation Update.
About this update from Dekel Agri-vision Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n This 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 \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\n \n \n \n \n ('Dekel' or the 'Company')\n \n \n \n \n January Palm Oil Production Update and Cashew Operation 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 a January production update for its Ayenouan palm oil project in Côte d'Ivoire ('Palm Oil Operation') and an update on progress regarding the ramp-up of production of our large-scale cashew processing plant at Tiebissou, Côte d'Ivoire (the 'Cashew Operation').\n \n \n \n \n \n \n Key Highlight\n \n s\n \n \n \n Palm Oil Operation\n \n \n \n · \n January can be summarised as a month of record January monthly Crude Palm Oil ('CPO') prices and record January CPO extraction rate offset by weak Fresh Fruit Bunch ('FFB') volumes.\n \n \n · \n The weak FFB volumes were attributed to unusually high FFB prices paid by one of our competitors which Dekel elected not to match in order to adhere to prices set by the local industry body. FFB prices in early February have normalised.\n \n \n · \n Crude Palm Oil ('CPO') prices achieved in January of €1,089 per tonne was a record for the month of January and materially higher than the international CPO price which traded around €950 per tonne.\n \n \n · \n The CPO extraction rate of 23% was also a record for January and coupled together with record January prices led to the gross margin percentage remaining strong.\n \n \n · \n FFB volumes in February have started quite low as small holders have held back harvesting in an attempt to enhance prices similar to January. However, we are starting to see an uplift in FFB volumes which should continue to increase towards mont...