REG - Dekel Agri-Vision - H1 2025 Palm Oil and Cashew Production Update

Dekel Agri-VisionAnnouncement

10/07/2025 07:00

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RNS Number : 4001Q  Dekel Agri-Vision PLC  10 July 2025

 

This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain.

 

10 July 2025

 

Dekel Agri-Vision Plc / Index: AIM / Epic: DKL / Sector: Food Producers

 

Dekel Agri-Vision Plc

('Dekel' or the 'Company')

H1 2025 Palm Oil and Cashew Production Update

 

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 its half year production update for the period ending 30 June 2025
('H1 2025') for the Ayenouan palm oil project in Côte d'Ivoire ('Palm Oil
Operation') and for our cashew processing plant at Tiebissou, Côte d'Ivoire
(the 'Cashew Operation').

 

Palm Oil Operation Key Performance Metrics: H1 2025 vs. H1 2024

·      Palm Oil Operational Highlights: For H1 2025, Palm Oil Operation
revenue is expected to exceed H1 2024 by approximately 20%, driven by strong
Crude Palm Oil ('CPO') and Palm Kernel Oil ('PKO') pricing, partially offset
by a small decrease in CPO production volumes.

·      CPO Production: 21,128 tonnes, a decrease of 9.0%. Historically,
this year was a relatively modest harvest.

·      CPO Extraction Rate: Remained steady at 21.9%.

·      CPO Sales Volume: A decrease of 5.3% reflecting the decrease in
CPO production. Local demand continues to be strong with all CPO production
for H1 2025 being sold.

·      CPO Sales Price: Increased by 25.1% to €963 per tonne.
International CPO prices remain above historical levels which has fed through
to increasing local CPO prices.

·      PKO Sales Price: PKO prices increased 57.7% as increases in
international PKO prices began feeding into local prices during H1 2025.

 

                                               H1-2025   H1-2024  Change

 Fresh Fruit Bunch ('FFB') processed (tonnes)  96,518    105,444  -8.5%
 CPO Extraction Rate                           21.9%     22.0%    -0.05%
 CPO production (tonnes)                       21,128    23,236   -9.0%
 CPO Sales (tonnes)                            21,168    22,360   -5.3%
 Average CPO price per tonne                   €963      €770     25.1%
 Palm Kernel Oil ('PKO') production (tonnes)   1,474     1,367    7.8%
 PKO Sales (tonnes)                            1,220     1,333    -8.5%
 Average PKO price per tonne                   €1,266    €803     57.7%

 

Cashew Operation Key Performance Metrics: H1 2025 vs. H1 2024

 

·      Cashew Operational Highlights: The Cashew Operation has turned
the corner over the past 6 months with all key operational metrics
significantly increasing:

o  RCN ('Raw Cashew Nut') processed increased by 269.4%

o  Cashew production rose by 353.0%

o  Cashew sales prices rose by 67.7%

o  Additional equipment, primarily shelling and peeling equipment already
ordered will drive a further step up in production levels in H2 2025.

o  On track to record maiden EBITDA positive result for 2025

·      RCN Purchasing: The improved performance of the Cashew Operation
has allowed us to confidently purchase additional RCN over the past few
months.  RCN purchasing is continuing as we look forward with more confidence
into H2 2025.

·      RCN Processing: We remain on track to meet our 2025 EBITDA
target, with additional capacity to be brought online in H2 2025. This
includes processing of third-party RCN to produce a new specialised unpeeled
product which has proven to be a successful initiative, particularly whilst we
restored our internal stock levels. This product line is delivering margins
comparable to our own RCN processing.

·      Processing Efficiency: Key improvements included:

o  Better whole-to-broken nut ratios

o  Enhanced peeling performance

o  Increased extraction rates- while the headline extraction rate of 23.8%
includes unpeeled cashews, the normalised rate of 21-22% for internal RCN
represents a significant improvement over Q1 2024.

·      Production & Sales: Higher processing volumes are translating
directly into output and sales:

o  Cashew production increased 353%

o  Cashew sales volumes increased 125.6%

·      Sales Prices: Prices for peeled cashews in H1 2025 increased by
67.7% compared to H1 2024. Cashew prices softened during the back half of H1
2025.

 

                                                 H1-2025   H1-2024   Change

 RCN Inventory
 Opening RCN Inventory (tonnes)                  742       1,751     -57.6%
 RCN Purchased (tonnes)                          4,087     419       875.4%
 RCN Processed (tonnes)                          2,172     588       269.4%
 Closing RCN Inventory (tonnes)                  2,657     1,582     67.9%

 Cashew Processing
 Opening Cashews (tonnes)                        79        154       -48.7%
 RCN Processed (tonnes)                          2,172     588       269.4%
 Cashew Extraction Rate                          23.8%     19.6%     21.4%
 Cashew Produced (tonnes)                        521       115       353.0%
 Cashew Sales (tonnes)                           485       215       125.6%
 Closing Cashews (tonnes)                        115       54        113.0%

 Average Sales prices per tonne
 -       Peeled Cashews (including mixed)        €5,200    €3,100    67.7%

 

Lincoln Moore, Dekel's Executive Director, said: "Operationally, we delivered
a solid performance in H1 2025, with Palm Oil Operational revenues up
approximately 20% year-on-year, supported by elevated CPO and PKO prices.
Despite a 9.0% decline in CPO production to 21,128 tonnes, robust local demand
ensured all output was sold. Pricing remained strong, with CPO up 25.1% to
€963 per tonne and PKO up 57.7%."

 

"Our Cashew Operation has experienced a significant turnaround, with
production up 353%, driven by a 269.4% increase in RCN processed and improved
efficiency across the board. Sales volumes rose 125.6% and average prices
increased by 67.7%. Investments in new equipment are expected to further boost
production in H2 2025, while third-party RCN processing has delivered solid
margins. With good momentum across both divisions, we approach the second half
of the year with confidence."

** ENDS **

 

For further information, please visit the Company's website
www.dekelagrivision.com or contact:

 

 Dekel Agri-Vision Plc    +44 (0) 207 236 1177

 Youval Rasin

 Shai Kol

 Lincoln Moore

 Zeus (Nomad and Broker)  +44 (0) 203 829 5000

 James Joyce

 Darshan Patel

 John Moran

 

Notes:

Dekel Agri-Vision Plc is a multi-project, multi-commodity agriculture company
focused on West Africa. It has a portfolio of projects in Côte d'Ivoire at
various stages of development: a fully operational palm oil project in
Ayenouan where fruit produced by local smallholders is processed at the
Company's 60,000tpa capacity crude palm oil mill and a cashew processing
project in Tiebissou, which is currently transitioning to full commercial
production.

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