10th Jun 2025 15:40
(Alliance News) - Dekel Agri-Vision PLC on Tuesday said crude palm oil production and sales volumes fell in May, though strong local demand and a sharp rise in pricing helped offset the decline in output.
The West Africa-focused agricultural company firm reported that crude palm oil production at its Ayenouan project in Cote d'Ivoire dropped 23% year-on-year to 3,369 tonnes in May from 4,368, as fresh fruit bunch volumes declined and the extraction rate slipped 7.7% to around 22%.
Sales volumes also fell 14% to 3,404 tonnes from 3,959, but the average sales price climbed 23% to EUR956 per tonne. Dekel said local market prices are now in line with global benchmarks. Despite lower volumes, monthly CPO sales revenue is expected to be just 4% lower than a year prior.
Palm kernel oil, another product, saw even stronger price gains, with average selling prices rising 57% year-on-year to EUR1,312 per tonne. However, PKO sales volumes fell sharply, down nearly 70% to 211 tonnes.
Dekel said operations at its cashew processing plant in Tiebissou continued to perform strongly. It plans to expand capacity with additional shelling machines and a colour sorter arriving in July, expected to boost daily production to 30–35 tonnes from 20 currently.
Executive Director Lincoln Moore said the company is on track to deliver its first full-year earnings before interest, tax, depreciation, and amortisation-positive result in 2025. "Strong local demand and a significant uplift in both CPO and PKO pricing have helped to maintain resilient revenue performance," Moore said.
Dekel shares were down 7.3% to 1.09 pence each in London on Tuesday afternoon.
By Eva Castanedo, Alliance News reporter
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