- Dekel Agri-Vision (DI)
- 10 December 2024 16:11:40
Source: Sharecast
The AIM-traded firm said the facility processed 4,802 tonnes of fresh fruit bunches (FFB), a 73% year-on-year decline.
However, the CPO extraction rate of 21.3% showed improvement over October’s figure of 19.5% and remained broadly in line with 2023 levels.
Sales volumes mirrored the production decline but benefited from a 24.4% increase in average prices to €968 per tonne, driven by strong international market trends.
The higher prices were expected to positively impact revenues as the high season approached.
In the cashew segment, operations at the Tiebissou plant continued to improve following the introduction of new equipment.
Key performance metrics, such as peeling rates and the ratio of whole to broken cashews, reportedly showed sustained progress.
Daily raw cashew nut (RCN) processing reached a milestone of 15 tonnes, with plans to test 20 tonnes per day in the near future.
Robust sales prices further supported the operation's performance, the board said.
The company said it anticipated the cashew facility would achieve positive operational cash flow in December.
Dekel's management said it was optimistic about the outlook for both projects, expecting palm oil production to rebound sharply during the upcoming high season and cashew operations to continue scaling effectively.
“We saw a significant jump in our CPO sales prices in November 2023 and although the CPO low production season has lingered longer than normal, these higher prices should be very supportive for the upcoming high season,” said executive director Lincoln Moore.
“The cashew operation step up in performance continued in November and with daily processing rates increasing it means the operation is now on the verge of producing monthly operational cashflow during December 2024.”
At 1525 GMT, shares in Dekel Agri-Vision were down 1.61% at 1.53p.
Reporting by Josh White for Sharecast.com.