Business
July Palm Oil Production Update
July Palm Oil Production Update.
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 \n12 August 2024\n \nDekel Agri-Vision Plc / Index: AIM / Epic: DKL / Sector: Food Producers\n \nDekel Agri-Vision Plc\n('Dekel' or the 'Company')\nJuly Palm Oil Production Update\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 July production update for its Ayenouan palm oil project in Côte d'Ivoire ('Palm Oil Operation').\n \nKey Highlights\n· The Palm Oil Operation delivered another solid month with July 2024 CPO production 6.6% higher than July 2023. Year to date July 2024 CPO production remains in line with market expectations. \n· CPO sales prices continued to be historically strong at €778 per tonne. International prices continue to remain steady at approximately €900 per tonne. We also continue to see local CPO prices gradually increase towards the international price after commencing January 2024 at €737 per tonne.\n· The CPO extraction rate of 20.7% in July 2024 was 7.3% higher than July 2023. We are continuing to see higher CPO extraction rates compared to last year which is enhancing our gross margin percentage.\n· CPO sales quantities were lower in July 2024 compared to July 2023. This is purely a timing difference due to the high season in 2024 returning to a more typical peak earlier than 2023 where the peak occurred late in H1 2023. \n \n\n\n\n\n\n\n\nJul-24\n\n\nJuly-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\n11,517\n\n\n11,558\n\n\n-0.4%\n\n\n\n\nCPO Extraction Rate\n\n\n20.7%\n\n\n19.3%\n\n\n7.3%\n\n\n\n\nCPO production (tonnes)\n\n\n2,379\n\n\n2,231\n\n\n6.6%\n\n\n\n\nCPO Sales (tonnes)\n\n\n3,340\n\n\n5,623\n\n\n-40.6%\n\n\n\n\nAverage CPO price per tonne\n\n\n€778\n\n\n€814\n\n\n-...