Business
March Palm Oil Production & Cashew Project Update
March Palm Oil Production & Cashew Project Update.
About this update from Dekel Agri-vision Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8742H\n Dekel Agri-Vision PLC\n 11 April 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 March 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 March 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 In line with guidance last month, the high season which typically peaks in March has yet to commence in earnest resulting in CPO production being 50.5% lower than March last year. This highly unusual change in seasonal production is being experienced throughout Côte d'Ivoire and also in Ghana and Nigeria. \n \n \n · \n Early guidance for April is that production is tracking at a similar level to March. Intra month production is typically significantly higher in the last 10 days of each month so we will have better vision of any seasonal surge later this month.\n \n \n · \n CPO price of €996 per tonne achieved in March 2022, a 25.6% increase compared to March 2021 \n \n \n o \n Following the recent spike in international prices, we have identified new buyers at higher prices which will start to flow through from April. We are sensitive to meeting local commitments but we expect approximately 40-50% of our expected April production will be sold at over €1,150 per tonne ex-factory\n \n \n · \n CPO extraction rate increased a further 0.5 percentage points from February to 22.8% and was 1.4 percentage points higher than March 2021.\n \n \n · \n Palm Kernel Oil ('PKO')\n prices also continued their strong momentum following the commencement of exports achieving €1,486 per tonne in March 2022, a 79.0% increase compared to March 2021.\n \n \n · \n High prices and excellent CPO extraction rates mean Q1 2022 Revenue remains ahead of Q1 2021\n \n \n Cashew Project\n \n \n · \n Material progr...