April Palm Oil & Cashew Operation Update
April palm oil production down 2.8% but revenue up 5% on stronger prices; cashew operation showing continued improvement.
- CPO Production 4,375 tonnes (prior 4,502 tonnes)
- CPO Sales Price €964 per tonne (prior €777 per tonne)
- PKO Sales Price €1,326 per tonne (prior €759 per tonne)
- CPO Sales Revenue approximately 5% higher than April 2024
- Year-to-date Revenue approximately 30% up year-on-year
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Dekel Agri-Vision Plc (AIM: DKL), the West African agriculture company focused on building a portfolio of sustainable and diversified projects, is pleased to provide an April production update for its Ayenouan palm oil project in Côte d'Ivoire ('Palm Oil Operation'), along with continued positive momentum in the operational performance of the cashew processing plant at Tiebissou, Côte d'Ivoire (the 'Cashew Operation').
The Palm Oil Operation has maintained its strong start to 2025, with Crude Palm Oil ('CPO') sales prices remaining significantly higher year-on-year, while production levels are broadly in line with the same period last year.
Key Performance Metrics: April 2025 vs. April 2024
- CPO Production: 4,375 tonnes, representing a modest year-on-year decrease of 2.8%. Fresh Fruit Bunches (FFB) processed remained broadly consistent, though the CPO extraction rate was slightly lower than in April 2024.
- CPO Sales Volume: Down 15.1%, primarily due to timing differences. April 2024 included atypically high sales volumes due to stock clearance activities, which is not reflective of underlying demand. Local demand for CPO remains strong.
- CPO Sales Price: Up 24.1% to €964 per tonne, supported by continued strength in international pricing. Local market prices are now broadly aligned with global benchmarks.
- Palm Kernel Oil ('PKO') Sales Price: PKO prices remain at historically elevated levels, recording a 74.7% increase in prices.
- CPO Sales Revenue: April 2025 revenue is expected to be approximately 5% higher than April 2024, with the benefit of stronger CPO and PKO pricing more than offsetting the atypically high April 2024 sales volumes.
- Cashew Operation: Operational improvements reported in the Q1 2025 update have continued, further reinforcing the turnaround. Key monthly like-for-like production KPIs remain materially ahead of April 2024.
o Quarterly production and sales data will be published in July.
o The Group reiterates guidance for a significantly improved full-year performance in 2025, including its first-ever EBITDA-positive result.
| April-25 | April-24 | Change | |
|---|---|---|---|
| FFB processed (tonnes) | 20,019 | 20,012 | 0% |
| CPO Extraction Rate | 21.9% | 22.5% | -2.7% |
| CPO production (tonnes) | 4,375 | 4,502 | -2.8% |
| CPO Sales (tonnes) | 4,939 | 5,815 | -15.1% |
| Average CPO price per tonne | €964 | €777 | 24.1% |
| Palm Kernel Oil ('PKO') production (tonnes) | 314 | 230 | 36.5% |
| PKO Sales (tonnes) | 193 | 265 | -27.2% |
| Average PKO price per tonne | €1,326 | €759 | 74.7% |
Lincoln Moore, Dekel's Executive Director, said: "April 2025 marked continued strong momentum in our Palm Oil Operation, with year-to-date revenue up approximately 30% year-on-year, driven by sustained strength in CPO and PKO pricing. In addition, our Cashew Operation is delivering consistent performance improvements, cementing the turnaround and positioning the cashew business to achieve its first EBITDA-positive year in 2025."
For further information, please visit the Company's website www.dekelagrivision.com or contact:
| Dekel Agri-Vision Plc Youval Rasin Shai Kol Lincoln Moore | +44 (0) 207 236 1177 |
| Zeus (Nomad and Joint Broker) James Joyce Darshan Patel John Moran | +44 (0) 203 829 5000 |
| Optiva Securities Limited (Joint Broker) Christian Dennis Daniel Ingram | +44 (0) 203 137 1903 |
Notes:
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.