Business
Q1 2016 Production Update
Q1 2016 Production Update.
About this update from Dekel Agri-vision Plc
[{"type":"text","content":"\n \nRNS Number : 1357U Dekeloil Public Limited 05 April 2016 \n\n \nDekelOil Public Limited / Index: AIM / Epic: DKL / Sector: Food Producers\n5 April 2016\nDekelOil Public Limited ('DekelOil' or the 'Company')\nQ1 2016 Production Update\n \nDekelOil Public Limited, operator and 51% owner of the vertically integrated Ayenouan palm oil project in Côte d'Ivoire, is pleased to announce that crude palm oil ('CPO') production for the quarter ended 31 March 2016 has materially exceeded management's expectations and has increased significantly in comparison to the corresponding period in 2015. \n \nCPO production is delivered via the Company's 60 t/hr CPO extraction mill ('the Mill'), which is one of West Africa's largest, and production of Palm Kernel Oil ('PKO') and Palm Kernel Cake ('PKC') is delivered via its 60 t/ day Kernel Crushing Plant ('KCP') which was commissioned in November 2015, providing DekelOil with an additional revenue stream. \n \nCPO Production: \n· 15,141 tonnes of CPO produced in Q1 2016:\no 56.4% like-for-like increase in CPO production compared to Q1 2015 \n \n· Production increased month on month during Q1 2016 with production records set in February and March 2016\no January 2016 - 3,073 tonnes of CPO produced (January 2015: 2,168 tonnes)\no February 2016 - 5,733 tonnes of CPO produced (February 2015: 3,158 tonnes)\no March 2016 - 6,335 tonnes of CPO produced (March 2015: 4,352 tonnes)\n \n· 65,610 tonnes of fresh fruit bunches ('FFBs') delivered to the Mill in Q1 2016 compared to 40,448 tonnes in Q1 2015 - demonstrates DekelOil's strengthened regional position and heightened relationships with the local farming community, as well as the effectiveness of the Company's logistics network \n \n· CPO extracted at a rate of 23.1% during the period\n \n· 12,082 tonnes of CPO were sold during the period at an average price of €532 per tonne. CPO prices have increased considerably during the quarter with early sales in April taking place at a price approximately 10% higher than the average for Q1 2016\n \n· Gross margins, particularly in February and March have increased considerably compared to 2015 \n \nPKO and PKC Production: \n· ...