CPO Production surpasses 2014 total

RNS Number : 0793M

Dekeloil Public Limited

05 May 2015

 

DekelOil Public Limited / Index: AIM / Epic: DKL / Sector: Food Producers

5 May 2015

DekelOil Public Limited ('DekelOil' or 'the Company')

CPO Production surpasses 2014 total

DekelOil Public Limited, operator and 51% owner of an established palm oil project in Côte d'Ivoire, is delighted to announce that total Crude Palm Oil ('CPO') production during the period 1 January 2015 to 30 April 2015 has already surpassed 14,242 tonnes, the production level achieved in 2014.  This includes a record monthly production of 4,818 tonnes for April 2015 at the Company's 60 t/hr CPO extraction Mill ('the Mill'), which is one of West Africa's largest.

The Company's total CPO production for the year to date now stands at 14,496 tonnes.  In addition to its CPO production, DekelOil produced 825 tonnes of kernels in April at the Mill.  April falls within the peak harvesting season, and the Directors anticipate continued strong production for the remainder of the primary peak harvesting season which typically continues into June. 

DekelOil Executive Director Lincoln Moore said, "Our production and sales continue to go from strength to strength and we are delighted to have exceeded 2014's total production in just four months into the current year and to have another month of record production.  This significant achievement demonstrates our strong commitment to delivering on our strategy to increase production at our Mill towards its 70,000 tonnes per annum capacity and we are confident we will continue to hit our future milestones.  In tandem with increasing production, we are focused on maximising profitability through the construction of a kernel crushing plant later this year, and via the ongoing roll out of our company-owned estates which we expect to positively impact our margins."

** ENDS **

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

Youval Rasin	DekelOil Public Limited	Tel: [phone]
Shai Kol
Lincoln Moore
Ben Wright Richard Salmond	Nplus1 Singer Advisory LLP	Tel: [phone]
Christian Dennis Jeremy King Saif Janjua Elliot Hance Elisabeth Cowell	Optiva Securities Limited Beaufort Securities Limited St Brides Partners Ltd	Tel: [phone] Tel: [phone] Tel: [phone]
Frank Buhagiar

Notes:

DekelOil Public Limited is a low cost producer of palm oil in West Africa, which it is focused on rapidly expanding.  To this end, it has a 51% interest in one of the largest oil processing mills based in Côte d'Ivoire, which has a capacity of 70,000 tons of CPO.  Feedstock for the Mill comes from 27,000 hectares of mature palm oil plantations that have been secured under long term contracts with smallholders, however it also has nearly 1,900 hectares of its own plantations.  Furthermore, it has a world-class nursery with a 1 million seedlings a year capacity. 

 

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